NFACA Meaning and
Definition
-
NFACA stands for National Financial and Accountability Commission Act. It is a legislative act that establishes a national commission responsible for overseeing financial matters and ensuring accountability in a country's governance system.
The aim of the NFACA is to promote transparency, integrity, and efficiency in the management of public finances. It sets up a commission that has the authority to monitor and assess the financial activities of governmental agencies, departments, and public bodies. The commission is granted the power to evaluate the use of public funds and resources, ensure compliance with legal and regulatory frameworks, and recommend improvements in financial management practices.
The NFACA typically outlines the composition, functions, and powers of the commission, as well as the procedures it needs to follow in conducting its financial audits and inspections. It may also define the criteria for appointment and removal of commission members, their terms of office, and the reporting requirements for their activities.
The establishment of an NFACA is crucial for fostering good governance, reducing corruption, and improving financial accountability. It helps strengthen public trust in the government and ensures that public funds are utilized effectively and efficiently for the benefit of the nation and its citizens.
Common Misspellings for NFACA
- nfzca
- nfqca
- nfaxa
- nfacz
- nfacw
- bnfaca
- nbfaca
- nmfaca
- jnfaca
- njfaca
- hnfaca
- nhfaca
- ncfaca
- nfcaca
- nvfaca
- nfvaca
- ngfaca
- nfgaca
- ntfaca
- nftaca
Infographic
Add the infographic to your website:
