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Ministries rapped for lack of audit.

THE Financial Audit Bureau's (FAB) said no independent review was conducted on monthly statements of domestic and foreign loans by ministries and government bodies.

Eight ministries and government bodies did not appoint internal or external auditors. Some did not even issue audited financial statements, it said in its 2010 annual report.

The Culture Ministry was accused of failing to submit contracts worth more than BD300,000 to the legislative and legal affairs committee and not including penalty clauses in contracts, in addition to delay in collecting hotel services and tourism fees. The report also pointed to the worsening financial position of the Information Affairs Authority.

The General Organisation of Youth and Sport and Electricity and Water Authority also came in for criticism with the latter being accused of not collecting revenues of BD76 million.

The five municipalities and the Human Rights and Social Development Ministry did not exercise its supervisory role in fund-raising activities of some NGOs, despite 266 violations, the report said. The Social Insurance Organisation has invested BD3 billion without any risk management in place, the report stressed, our sister paper Akhbar Al Khaleej reported.

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Publication:Gulf Daily News (Manama, Bahrain)
Date:Dec 13, 2011
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