PHILIPSBURG:--- Representatives of the General Audit Chamber on Friday presented the President of Parliament Hon. drs. Rodolphe Samuel with a document entitled "Report on the Concerns and Observations Pertaining to the 2010 Financial Statement of the General Service of the Island Territory of Sint Maarten."
The General Audit Chamber was not obligated to provide an insight into the period prior to October 10, 2010, however the High Council of State is of the opinion that the content of the report will provide important information to the Ministry of Finance with respect to shortcomings as noted in the report.
The report was presented to the House of Parliament in order to enable the House to adequately fulfil its role in the budget cycle. The annual financial statements play a crucial role in the aforementioned cycle.
According to the report, the financial statement of the Island Territory of Sint Maarten over the year 2010 was submitted late.
Timely reporting and adherence to the relevant regulations and the quality of the financial accountability of government in the future is of major importance.
