29.3 C
Saint Martin
Wednesday, September 28, 2022
HomeLOCAL NEWSAudit Chamber submits report on 2017 financial statement

Audit Chamber submits report on 2017 financial statement

PHILIPSBURG: The General Audit Chamber has presented its audit report entitled “Compliance Audit: Financial Statements of St. Maarten 2017” to Parliament.

The 2017 Financial Statements contain numerous errors and uncertainties. This situation contributed to our opinion that the 2017 Financial Statements do not provide a true  representation of the government’s financial position as of December 31, 2017, nor of the level of income and expenses for that year. A surplus of ANG 20.0 million had been initially projected. The lower result of ANG 181.2 million is largely due to the effect of Hurricane Irma that impacted the island in September 2017.

The 2017 financial statements should have been drafted on September 1, 2018. Instead, the General Audit Chamber and the SOAB received the financial statements from government on October 30, 2020. The SOAB must first review and issue a report  after which the legal timeline for the Audit Chamber to report starts. That timeline started on June 11, 2021, when the SOAB presented its report and opinion to the Audit Chamber.

The Audit Chamber is required by law to examine whether government was legally compliant and effective in its spending of public funds.

The report is available via www.arsxm.org.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -spot_img

Most Popular

Recent Comments

Dutch NL English EN French FR Italian IT Spanish ES