The Ministry of Finance and Economic Development is the first entity in Government this year to get an “unqualified” audit report from the Office of the Auditor General (OAG).
While the report itself and its contents will be tabled in a coming meeting of the House, the Ministry has shared that the positive opinion was received promptly from the OAG on 6 March 2020, soon after the statutory deadline for submission of financial statements to the OAG, on 28 February 2020.
However, ministry officials state that their financial team submitted financials to the OAG on 29 January, which is nearly a month in advance of the prescribed deadline. The accounts submitted covered the core ministry and its departments comprising Risk Management, Treasury, Economics and Statistics Office, Postal Service, Central Procurement Office and Corporate Unit.
Speaking on behalf of the ministry and its departments, Minister for Finance and Economic Development, Hon. Roy McTaggart said, “We are extremely pleased to have the audit completed so promptly after of the close of the financial year. The Ministry thanks the Audit Office for its efficiency in completing the audit which bodes well for public accountability. It is certainly the aim of the ministry to have our 2019 annual report which includes the audited financial statements, available for tabling at the next LA meeting.”
Minister McTaggart added, “I am equally pleased that our ministry team was able to submit in advance of the deadline, which is in keeping with our aim to be expeditious.”
Financial Secretary and Chief Officer, Mr. Kenneth Jefferson said, “During the 2019 financial year, the Ministry of Finance and Economic Development was particularly pleased to have played a leading role in assisting the Government in producing its 2020 and 2021 budget. That was a major accomplishment during the 2019 financial year.”
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