Abstract: The oversight role of Parliament is a contested but fundamental concept in the structure of managing public finances in democratic counties. This article attempts to analyse key issues in terms of Parliament’s oversight role and managing public finances in Uganda. Uganda has been implementing PFM reforms since the beginning of the 1990s. Despite remarkable improvements in many areas, there are still numerous challenges regarding the effectiveness and efficiency of government spending and the quality of service delivery using government funds (Ministry of Finance, Planning and Economic Development 2011:34). The article uses a mixed-method approach to provide contextual insight into the practical institutional obstacles that the Parliament of Uganda faces as an oversight institution. Furthermore, the article argues that the weaknesses in the structural and institutional framework exacerbate the many challenges the Parliament of Uganda faces in terms of its oversight role.