2012 Annual Accounts approved by Parliament

PHILIPSBURG–The country is catching up on its backlog of annual accounts. The accounts for 2012 were approved unanimously by Parliament in a plenary session on Thursday afternoon. The accounts for the two following years will soon be on their way to the legislature.

Finance Minister Richard Gibson Sr. told Members of Parliament the backlog in the presentation of the accounts is “not in accordance with good governance.” The backlog spans now from 2013 to 2015. The 2016 accounts are soon to join the pending line.

The 2013 and 2014 accounts are now with the Legal Affairs Department of Government for “vetting” and will go through the channels to get to the floor of Parliament in the coming months.

When he presented the 2012 accounts in the Central Committee of Parliament in February, Gibson Sr. had described them as “steeped in flaws and inaccuracies.” The accounts contain “unreliable figures,” he said, adding then that passing the account was a “formality.”

Government is working on implementing the recommendations of the General Audit Chamber and the Committee for Financial Supervision CFT to get its financial house in better order, said Gibson Sr. in February.

Source: The Daily Herald https://www.thedailyherald.sx/islands/64242-2012-annual-accounts-approved-by-parliament