The Entire Public Sector’s consolidated financials gets it’s third adverse audit opinion, this time it’s for its 2016 figures.
Today (16 March) Finance Minister Hon. Roy McTaggart made the announcement as he tabled the EPS annual financial report for 2016 in the LA.
He said the Auditor General flagged issues like omitting government pension funds from the consolidated statements and not including Government’s $1.4 billion post-retirement health liabilities as reasons for her adverse opinion.
“It is envisaged that most of the remaining issues that have contributed to an adverse opinion on the 2015-2016 Entire Public Sector consolidated statements will be addressed by the financial year ending 30th December 2019,” Mr. McTaggart said.
The minister said the issues raised relate to differences in accounting practices and preparation of the financials and government is reviewing those procedures.