The international community has invested a significant amount of resources to limit corruption in developing countries and institute sound public finance management systems. This strategic approach has resulted in the emergence of anti-corruption commissions in Africa and elsewhere as a means to institute good governance, limit unconscionable spending and promote economic growth. However, a proactive participation of Parliaments and other key stakeholders, including the Auditor-General and civil society, in achieving this goal, has been very limited. As a result, systemic corruption and mismanagement of financial resources continue to pervade emerging economies in the midst of an unsettled political climate and limited reforms.Notwithstanding this trend, the quest for achieving transparency and participation in the budget process has become part of the general rubric of national developments. By design and purpose, international policy makers and leaderships of emerging economies are pursuing new public financial management strategies to increase the role of oversight institutions such as Parliaments, to enhance economic performance and curb corruption in the public sector. At the heart of the new strategies lie the improvement of budget transparency and participation