Parliament has been alerted to alarming findings indicating that 73 percent of statutory authorities, independent bodies, and commissions subjected to audits from 2019 to 2023 received unsatisfactory ratings regarding their financial reporting. Government MP Jovesa Vocea unveiled these reports during a recent parliamentary session, revealing significant deficiencies in the quality and timeliness of financial statements from these entities.
Vocea highlighted that five of the audited entities were issued a Disclaimer of Opinion, signifying that the issues identified go beyond mere numerical discrepancies; they underscore profound governance and accountability challenges. Key issues outlined in the report included delays in account submissions, incomplete records, and the absence of crucial management comments or official audit statements, all of which hindered the timely completion of audits.
The report also revealed that some entities had outstanding reports dating back to 2003, shedding light on the long-standing nature of these governance lapses. While Vocea recognized that there have been sporadic improvements in audit assessments and financial controls, these advancements have not been uniformly sustained over time.
Significant governance deficiencies were also pointed out in the report, including the lack of formal risk management policies, disaster recovery frameworks, and business continuity plans. The Auditor-General’s office has directed the heads of these entities to take full ownership of the audit findings and to act swiftly to implement necessary corrective measures.
On a positive note, some entities, such as the Accident Compensation Commission of Fiji, Civil Aviation Authority of Fiji, and Consumer Council of Fiji, received commendations for their ongoing compliance with financial regulations. Vocea emphasized that upcoming parliamentary debates will focus on these findings, aiming to promote accountability and encourage reform across the affected sectors.
These developments are reflective of recent reports indicating that various provincial councils in Fiji have also faced issues related to financial mismanagement and governance. Audit Reports have underscored the critical need for transparent and accountable financial practices. As the demand for reform becomes more pronounced, there is optimism that sustained efforts toward enhancing financial transparency and governance can restore public confidence and strengthen the integrity of Fiji’s public institutions.