The Auditor-General has stated that her opinion on the Government’s 2023-24 Consolidated Fund financial statements had to be “qualified” because of omissions or errors.

Heather Thomas said the matter was significant enough that it could “make a difference to readers’ understanding of the financial statements”.

Ms Thomas added that there were areas where the Government “may need to improve its financial reporting and administration to ensure better transparency and accountability” on its finances.

The statements were tabled in the House of Assembly by Wayne Furbert, the Junior Minister of Finance.

Ms Thomas compared her remarks to her statement on the 2022-23 financials, stating again that there was “insufficient support for government asset retirement obligations”.

She added: “The Government has not provided sufficient audit evidence to allow me to verify the accuracy and completeness of the recorded valuation amounts included in the audited accounts.”

Although a “more thorough” and updated asset retirement obligations assessment was submitted last October, Ms Thomas said it was “devoid of the essential supporting evidence”.

The Auditor-General said she could not determine if adjustments might be needed to tangible capital assets, asset retirement obligation liability, expenses, total non-financial assets, total liabilities, annual deficit and accumulated deficit for the fiscal year ending on March 31.

She included an “Emphasis of Matter” paragraph to highlight that the Consolidated Fund financial statements were not summary consolidated financial statements — with “roughly 50 entities with combined assets and liabilities totalling $4.4 billion and $3 billion, respectively, that are outside of the Consolidated Fund”.

Ms Thomas explained that the emphasis did not represent a qualification of her Auditor’s Opinion, but was used to report matters that in her professional view should be brought to the attention of Parliament and the public.