Consistent with the Audit Act 1973, the Government submits its annual financial statements to the Auditor General for audit.
The purpose of the audit is to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error and to issue an auditor’s report that includes an audit opinion.
For many years, the Government did not issue financial statements for audit.
As part of its commitment to implement public financial management reform, the Government commenced preparing financial statements for audit in 2018, with the 2015-16 financial statements.
It is gradually completing the financial statements, with 2016-17 submitted to audit in December 2019, 2017-18 submitted in August 2020, and 2018-19 submitted in March 2021.
Financial statements for 2019-20 are expected to be prepared and submitted to audit by mid 2021.
To support financial transparency, the financial statements as submitted to the auditor are published.
Audit reports of GON Financial Statements
The 2017-18 Financial Statements were submitted for audit on 21 August 2020.
The final audit outcome is expected in December 2020.
The 2016-17 Financial Statements were submitted for audit on 20 December 2019.
The audit was completed on 28 August 2020. The audit report was tabled in Parliament by the Minister for Finance on 22 October 2020,
Secretary of Finance
Department of Finance