Impact of bounced cheques. | SMN NEWS

PHILIPSBURG:—  The General Audit Chamber submitted its report entitled “Mini audit: the settlement of bounced cheques” to Parliament today. The report presents findings, analysis, and conclusions of the performance audit related to the processing of so-called ‘bounced’ cheques by the government. Bounced cheques are payments via cheques that are subsequently rejected by the bank.

With this Mini audit, the Audit Chamber set out to determine how many “bounced cheques” exist in practice, what procedure government uses for reversing the payment, as well as the options available to mitigate the problem of bounced cheques in the future.

Online payment via the ...

To read more: