THE Treasury has been accused of failing to control States expenditure, poor financial management and misleading accounting.
The criticisms are contained the annual report by the Public Accounts Committee, the States’ spending watchdog, for the year to 31 December 2007. The report concludes that the States does not take exceeding budgets seriously, with budgeting ‘being treated as a game’.
The chairman of the PAC, Deputy Sarah Ferguson (pictured), said: ‘It is essential that the Council of Ministers demonstrate their acceptance of the importance of proper financial management and internal controls of the States. This would show the people of the Island the real commitment of the Council of Ministers to the avoidance of wasteful and ill-considered expenditure.’
She added that a lot of good work was being done, however, and she welcomed the introduction of the GAAP accounting rules, which would ensure more transparent and regulated accounting.
