New laws expected to thwart scams, improve governance

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The story "New laws expected to thwart scams, improve governance" was covered 16 hours ago by Business Mirror, a news publisher based in Philippines.

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New laws expected to thwart scams, improve governance - Business Mirror

Quick Summary:

THE recently signed New Government Procurement Act and the Anti-Financial Accounts Scamming Act (Afasa) are important steps toward improving openness, effectiveness, and good governance in public procurement while thwarting financial scams and safeguarding the public from economic fraud.

Romualdez emphasized that the law streamlines and standardizes procurement processes, ensuring that public funds are spent wisely and judiciusly.

Key features of the revised law include the standardization of procurement processes and forms, requirements for proper planning and budget compliance, and mandates for detailed engineering investigations and surveys before bidding on infrastructure projects.