The Public Accounts Committee is charged with a critical function of the legislature - overseeing government finances. The PAC holds ministries accountable to the audit reports of the Comptroller and Auditor General, inquires into whether government funds were spent for purposes for which they were allocated, and into the reasons for any excess expenditure by government bodies. By convention, the chairperson of the committee is an opposition MP. Members are elected to the committee for a period of one year.