The function of this Committee is:

1. To examine annual reports of the Auditor-General, as may be referred to the National Council by the National Assembly in terms of the provisions of the Constitution, and advise the Council thereto;
2. To scrutinize Government’s financial proposals and fiscal policies and advise the Council thereon;
3. To examine incidents of financial mismanagement in the public sector and advise Council thereon;
4. To deal with questions falling within the the ambit of Ministries and Authorities concerned with Trade and Industry, Fisheries and Marine Resources, Mines and Energy, Economic Affairs, Finance, and Environment and Tourism; and
5. To perform any other functions as may be referred to it by the Council.