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Report concerns

Shalveen Chand
Friday, August 22, 2014

THE Financial and Appropriation Statements of the government posted on the Finance Ministry website, with no announcement, raise questions of accountability and transparency in the management of the finances of the State, according to the National Federation Party.

In a statement, party general secretary Kamal Iyer said they had viewed the financial statements posted on the ministry's website from 2006 to 2012 as well as the qualifications of the Auditor-General.

"The audit is restricted to the financial and appropriation statements only and does not contain reports that are a comprehensive audit of all government ministries, statutory organisations," said Mr Iyer.

The NFP has been asking for the release of all audit reports from 2007 to 2013.

"In his qualification statement of financial and appropriation statements for the year 2012, the then Auditor-General Tevita Bolanavanua raised 14 concerns regarding the statements.

"Some of these are the Investment in the Sinking Fund totalling $192.2million which is overstated by a massive $138.5m.

"The Auditor-General is only expressing an opinion on a mere $53.7m; trust accounts with ministries/departments were overdrawn by $7.3m.

"The correctness, completeness and existence of the equity opening balance of over $2.815billion could not be substantiated due to lack of supporting documents and variance of $10m between Ministry of Finance general ledger balances and the FRCA revenue collection report for 2012."

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