With the creation of the State Finance Committee, between 1976 and 1977, the functions performed by the National Bank's Verification Department became part of the Verification Directorate attached to this Committee.
In Law 1323 of the “Organization of the Central State Administration” of November 30, 1976, article 60, subparagraph c), this Committee is empowered to perform the verification of the financial economic activities of the organs and agencies of the State, companies and other dependencies and other organizations and in article 52 subsection b), it is established as functions of the organizations of the Organization of the Central Administration of the State, to perform Audits and to verify financial activities of the budgeted Institutions as well as economic financial activities of the companies that are subordinate to it. (Taken from "The Audit as one of the most important functions of the National Bank" of Mr. AntonioTay Araujo).
The State Finance Committee encourages the start to legislate everything related to the methodological and organizational measures of the Audits, deepening economic-financial controls. Within its structure, the Directorate of Verification, would exercise the audit work. Within the Committee, the Revenue Department was also created, which carried out the verification of compliance by natural and legal persons with their obligations to the State Budget.
There was also a State Price Committee in Cuba, which joins the State Finance Committee officially as of April 21, 1994, when the Executive Committee of the Council of Ministers establishes by Decree Law No. 147 the reorganization of the Bodies of the Central State Administration and the creation of the Ministry of Finance and Prices (MFP).