International Journal of Auditing – January 2003
Barbados
Annual Report for 2001 Issued
In January 2002, the Barbados Audit Office submitted its Annual Report to Parliament for the financial year ended March 31, 200l. The report’s findings were based on its audit examination of the financial statements and accounts of government ministries and departments.
The report acknowledged improvements in the government’s financial management operations. However, it expressed concerns about a number of areas, including the following: the management of receivables by entities responsible for the collection of government revenues; continuing noncompliance with financial rules regarding contracts to supply goods and services; the number of statutory corporations and other government entities that fail to submit accounts for audit on a timely basis; and ongoing problems with accounting officers submitting appropriation accounts within the time frames stipulated by law. Some of these issues have had an impact on the Auditor General’s ability to complete certain audits in a timely manner and certify the accounts.
For additional information, contact: Barbados Audit Office, Weymouth Corporate Centre, Roebuck Street, St. Michael; telephone: ++1 (246) 426-2537; fax: 1 (246) 228-2731.