ABSTRACT
Undoubtedly, AAAs have a critical contribution to make to improve fiscal transparency and financial accountability, acting as ‘auxiliary precautions’ of parliaments in the scrutiny of government finances. However, they are not as effective as they could or should be. Over two centuries ago, former US president Thomas Jefferson expressed his hope to see government finances as transparent as a ‘merchant’s book.’ In many developing countries, this remains an elusive wish.
