FinSec: “admittedly there are problems”

Financial Secretary Joseph Waight has admitted that there are problems with regards to the reporting of financial facts by finance officers across government ministries and departments. This has been a complaint that the Auditor General has been making for several years in her annual report. The inadequate performance by finance officers, accounting clerks has resulted in glaring financial discrepancies. Finance and accounting officers have failed to adhere to policies and regulations. Waight says that admittedly there are problems which require more resources and training at all level.

Joseph Waight, Financial Secretary

“She is doing her job and we respect. I mean there are certain issues that we have to tighten and try to bring more current the accounting. So we are looking at it more in real time rather than historically. It takes resources, it takes time.”

Reporter

“She made a number of complaints regarding financial statements that she received from the Accountant General; she said that there was poor file keeping and so on. Any consideration with regards to addressing those issues?”

Joseph Waight

“Yes, we have a program. We get technical assistance. We get technical assistance IMF funded. We have hired consultants to help us bring accounts up to date but not only do the work but put in place structures so that we can try to do it more in real time. But admittedly there are problems. Ideally and the law requires really that the accounts are prepared six months after the close of the financial year. We are aiming toward that but it requires more resources and training at all level, not only the Auditor General but the Accountant General even the financial people in all the ministries to make sure that they are doing their posting properly, on time so that at the end of the day we can pull the numbers together quickly.”