Home > 1.3.2.2.4 Combating electoral fraud > MALTA- Joint Opinion on the Draft Act to Regulate the Formation, the Inner Structures, Fuctioning and Financing of Political Parties and their Participation in Elections
 
 
 
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Paragraph 47
 

E. Rules on the financing of political parties


3. Independent oversight and enforcement


Legislation should specify the process and procedures determining how and which party reports are selected for auditing[1].According to the Guidelines, “[r]eports should clearly distinguish between income and expenditures. Further, reporting formats should include the itemization of donations into standardized categories as defined by relevant regulations. The nature and value of all donations received by a political party should be identified in financial reports”.[2] There is a lack of guarantees concerning auditors to be appointed to carry out annual audits (Article 28) and a lack of clarity on accounting rules in the draft Act, which contains only a reference to “generally accepted accounting standards” (Article 24 par 1). Provisions on accounting for political parties should be similar to those provided for NGOs and companies in general. It is recommended to clarify provisions in the draft Act on auditing, and to provide for more specific guarantees on the independence of auditors.


[1]Guidelines, par. 214.


[2] Guidelines, par. 203.