Government makes audit deadline for first time

| 19/09/2011

(CNS): For the first time since it was introduced around eight years ago, government’s financial bosses have complied with the Public Management and Finance Law by meeting the deadline for audit. Never before have all the top accounts working in the civil service managed to give the Office of the Auditor General (OAG) the information it needs to complete government audits by the 31 August deadline set out in the law. Alastair Swarbrick, the auditor general, said Monday morning that every portfolio and ministry as well as all government companies and statutory authorities had submitted financial documents on time. The auditor general revealed that only eight public authorities had not supplied enough information for an audit.

He said all twelve ministries, portfolios and offices as well as the twenty-six statutory authorities and government companies submitted draft financial statements and supporting documentation on or before the 31 August  deadline for this year.

“I am pleased to see the efforts by the government and the progress it has made to provide timely financial reporting. This is an important step towards achieving the ultimate goal of providing the Legislative Assembly and the people of the Cayman Islands with full accountability for the receipt and use of public funds,” Swarbrick said.

He explained that since the information came in, which in most cases was very close to the deadline, the audit staff have been assessing the quality of the submissions to determine if there is sufficient information to commence their audit work. Swarbrick said that all 12 ministries and portfolios and 18 out of the 26 statutory authorities and government companies had provided enough and those that had not have been asked to resubmit their financial reporting packages.

“While there are a few submissions that require more work, my office can now begin the audit work necessary to report on the fairness of those financial statements that met the initial reporting requirements,” the auditor general said. “The next challenge will be for my office to audit the statements in as timely a fashion as possible.”

Given the efforts of the office to audit the remaining backlog of financial statements, the availability of resources, and the timing of the government’s submissions and efforts to meet this year’s reporting deadline, he said the audits won’t be completed until early in 2012.

Government also wants to produce its firstever consolidated accounts by the 31 October deadline for audit, which Swarbrick said would be another first as the audit office has never been given consolidated accounts from the government.

Category: Politics

Comments (9)

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  1. Anonymous says:

    Only one comment so far – lets fix that!!

     

    Good job Mckeewa – first completed audit in 8 years – now we getting things done.

  2. Cow Foot with rice and peas says:

    Oh, so Government does what they are supposed to do and we supposed to give them a party? They want cake and balloons too?

    Psssh.

    Well la-dee-da. Congradulation Government. You get 2 gold stars and a blue ribbon for doing what you are suppose to do anyway.

    Now go find the gunmen and create some jobs bobo!

    Fooooooolishness!

  3. Anonymous says:

    Congratulations to the present Auditor General Mr. Swarbrick and the Auditor General departmental staff for keeping government’s feet to the fire to ensure that the PMFL was definitely workable and must be made to work. 

    Too many in authority did not want the PMFL to work, they liked being able to hide how our money was spent for their own projects.

    It would be remiss of us not to also recognize that sacrificial lamb, Mr. Dan Dougay, who was castigated and fired by the Cayman Islands politicians, Governor, civil servants and many in the public.  Shame, Shame on all of you.

    Mr. Dougay brought attention to the very important function of the Auditor General to protect how our tax dollars are expended by government.  Mr. Dougay did what many civil servants and some politicians do not do – he did his job exceptionally well and for that he was fired!  Some ingratitude and it is definitely not inspiring to young civil servants to always do what is correct.

    Had Mr. Dougay not brought the poor state of governments accounts and the many poor value for money expended reports into the public then the world would have never known what was going on in government and the PMFL would have been revised by the politicians and the FCO to transform it into useless legislation just to appease gross accounting inefficiencies, incapable Chief Financial Officers and poor governance.

    Mr. Swarbrick and Mr. Dougay have proven that the PMFL is a good law, a good financial accounting system and that it is workable once those that would block financial accountability are shoved out of the way.

    Keep up the good work Mr. Swarbrick and your staff, keep the reports exposing government poor value for money coming, with you on board we may actually one day see good governance.

  4. Anonymous says:

    So complying with the timelines required by the PMFl can be achieved once hands are held to the fire by senior government officials such as the Deputy Governor. Well done! It shows that all the negative stuff in the past about how it couldn't be done was just so much hogwash and excuse making for civil servants who were either incompetent or lazy or both.

    • Anonymous says:

      On time does not necessarily mean well done or in compliance.  8 years to get it done at all for the first time and that means the lazy and incompetent excuses are now all hogwash?  Pathitic.  But go ahead and pat yourself on the back.  Your doing great!  Compared to everything else you've done or didn't do.

      • Anonymous says:

        You seem to be commenting on Mon 10:07's post but you obviously didn't understand it!

    • Anonymous says:

      yes, but can we believe it??