PRESS RELEASE NO. 2019 - 02
The Office of the Chuuk State Public Auditor (OCPA) announces the release of Audit Report No. 2019-02, a performance audit entitled CHUUK STATE DEBT RELIEF FUND: No Clear Plan on how to Retire $13 Million Liabilities for Claims and Judgments and Other Payables which covered fiscal years 2009 to 2018. Reports may be made available by request to any interested individual at the OCPA in Nantaku, Weno, Chuuk. The Public Auditor’s authority is based on the Chuuk State Constitution Article VIII Section 9 and Truk State Law 6-21 which states in part: “The Auditor shall conduct audits of all financial transactions of all branches, departments, offices, agencies, and instrumentalities of the government, and of all accounts kept by or for them.” We conducted the performance audit in accordance with US General Audit Standards. The objectives of this audit included determining whether the records of debt payments and payables under the DRF are properly maintained; and, determining whether the Task Force was effective in retiring all the Chuuk State debts and payables under the DRF. The results of the audit disclosed the following findings: Finding 1 – The Records of Debts or Payables under Debt Relief Fund were not properly maintained Finding 2 –No clear plan on how to retire $13 Million Liabilities for Claims and Judgments and other Payables which have been accumulating. Further, this amount was not transparent to Public because it was not reported and reflected in the Financial Statement. The Debt Relief Task Force and the Department of Administrative Services submitted their Management Responses which were in agreement to the findings and recommendations.
You can access the full audit report here (click here)
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Office of the Chuuk State Public Auditor
P.O Box B Weno, Chuuk FM 96942 Tel: 691.330.8832/8835; Fax 691.330.8840
Website: http://www.fmocpa.com
