SI GOVERNMENT HAS NO CONTROL OVER MANAGEMENT OF ITS RESOURCES: REPORT
OFFICE of the Auditor General (OAG) says government has inadequate control over the management of its resources. In its 2019 report into the 2015 SIG National Accounts, a gross revelation was made by the report, pointing to lack of accountability and transparency in the financial affairs of the government. It was reported that problems were so significant in many Ministries that the Auditor General was unable to form an opinion on the annual financial statements. The AG receive d two sets of annual financial statements of the SIG for the year 2015 and has issued a disclaimer of opinion on the said financial statements. The main issues the OAG highlighted were: Financial statements not comply with IPSAS cash mandatory part 1 Statement of receipts and payments disclosure incomplete Non consolidation of its controlled entities into the SIG financial statements Statement of comparison of budget and actual amount lack explan...