FID - $45.12M in fixed assets unverified

Auditor General's Findings

The Auditor General’s Annual Report (2018/2019) found that Financial Investigations Division (FID) of the Ministry of Finance and Public Service did not maintain an updated fixed asset register to support the $45.12 Million, recorded as assets in the Financial Statements, as at March 31, 2018.

Although, FID committed in prior audits to maintain a fixed asset register to support the financial statements, this exercise was not actioned. FID was advised to update the fixed assets register to safeguard assets under the Division custody. FID has given a commitment that the weaknesses identified will be addressed.

Permanent Secretary (current): Darlene Morrison

Breach Category: Resource Management

Permanent Secretary (at breach):

Breach Type: Poor Inventory Management

Status: Progressing

Last Assessed: July 16, 2020

Year Reported: 2020

Year Resolved:

JAMP Update

JAMP contacted the Ministry of Finance and the Public Service for an update on this breach.

The Ministry responded in a letter dated July 16, 2020 indicating that, “Efforts will be made to have the Fixed Assets Register updated to reflect the data required as per Section 8.7.7 (Fixed Asset Register) of the FAA Act Instructions, by the end of the 2nd quarter of the 2020-2021 financial year.” Please see highlighted section of the document linked below.

In a further response from the Ministry, dated April 21, 2021 JAMP was advised that the Fixed Asset Register will be audited shortly, and as soon as the audit is finalised, the register will be shared.

JAMP will continue to follow up on this matter.