KPL
Lao Prime Minister Sonexay Siphandone has called for a major overhaul of the country’s audit and inspection systems to address long-standing financial discrepancies.
(KPL) Lao Prime Minister Sonexay Siphandone has called for a major overhaul of the country’s audit and inspection systems to address long-standing financial discrepancies.
Speaking at the 10th National Assembly on March 26, he highlighted concerns over “accumulated” figures in state accounts that lack corresponding real assets, warning that some are unlikely to be recovered.
The Prime Minister said authorities are reviewing which assets can be recovered and which should be written off, urging swift action to align financial records with economic reality.
He also pointed to overlapping roles between Party and State inspection bodies as a key inefficiency, calling for clearer responsibilities and better coordination across institutions.
Mr Sonexay proposed modernising the sector by strengthening professional training, involving private sector expertise, and expanding digital systems, including electronic payments, to improve transparency.
He stressed that stronger enforcement of laws and greater accountability among Party leaders would be essential to ensure inspection findings are properly implemented.
The proposals form part of broader efforts to improve financial governance and administrative efficiency in Laos.
KPL
