Opposition MP Alvick Maharaj raised urgent concerns in Parliament on Tuesday regarding what he characterized as a severe decline in accountability among statutory bodies, revealing that a staggering 73% of these entities were deemed unsatisfactory in their financial reporting. This alarming statistic was drawn from a consolidated review report issued by the Office of the Auditor-General (OAG).
Maharaj emphasized that this finding should send shockwaves through the nation, particularly among Fijian taxpayers. “The fact that nearly 73% of the entities reviewed received unsatisfactory ratings for the quality and timeliness of their financial statements is utterly unacceptable,” he stated. He pointed out that this issue is far from trivial, indicating a pervasive failure in management competency across these statutory bodies.
He commended the OAG and the Public Accounts Committee for unveiling what he termed “systematic deficiencies” that have persisted unchecked for several years. Maharaj expressed deep concern on behalf of the civilian taxpayers, lamenting that a culture of flexibility and non-compliance has been allowed to thrive unchecked.
The report from the OAG highlights failures particularly in two critical areas: financial discipline and corporate governance. Maharaj clarified that the statutory bodies and commissions operate independently from the government, stating, “These are statutory authorities, independent bodies and commissions. The government has no say over their operations. It is the chief accounting officers, CEOs, and boards who manage them — and they are the ones responsible.”
With nearly three-quarters of the reviewed entities failing to meet basic reporting standards, Maharaj argued that accountability must follow. He asserted that chief accounting officers should face consequences for these lapses, suggesting that such accountability should be part of their Key Performance Indicators (KPIs).
Maharaj noted the alarming prevalence of qualified and disclaimer audit opinions, highlighting them as indicators of serious financial risks. A disclaimer opinion signifies that auditors could not obtain sufficient evidence to assess financial statements, raising concerns about the management of significant public funds in a manner that lacks transparency and accountability. He also highlighted that backlogs in financial reporting result in a substantial “information vacuum,” restricting proper oversight.
In conclusion, Maharaj called for decisive action from the government in response to the findings, asserting that the 73% failure rate indicates a systemic breakdown that demands immediate attention. Taxpayers, he insisted, deserve a far higher level of accountability from governmental entities. This situation presents an opportunity for reform and improvement in the oversight of public funds, ultimately benefitting the citizens and restoring public trust in statutory bodies.
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