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OPA begins fiscal year 2016 audit
The Office of the Public Auditor will soon begin its annual single audit of the CNMI government’s budget for fiscal year 2016, which ended last Sept. 30. The OPA regularly audits government expenses and prepares a report to maintain the transparency of all departments and agencies of the administration.
Public Auditor Michael Pai is requesting the cooperation of all government entities in assisting Deloitte & Touche LLC, the independent auditing firm that they hired to assist them.
“The CNMI’s audit report is required by auditing standards to be issued by June 30, 2017. In order to achieve its objectives, everyone involved must provide full cooperation and prompt assistance to the Deloitte auditors,” said Pai in a letter to government departments and agencies.
Pai added that all government units that are subject to the single audit must also issue their reports no later than May 31, 2017, “to allow enough time for Deloitte to include entities’ audited financial information in the CNMI’s government-wide audit report.”
“Government entities’ single audit reports not issued in time for inclusion will have a negative impact on the quality of the CNMI’s audit report,” Pai added.
The audit done in a timely manner and its quality are factors in getting good financial ratings that would translate to getting federal funds.
“Timely completion and the quality of the CNMI’s government-wide single audit are factors in financial ratings by third parties and helps the CNMI obtain federal funding,” said Pai. “Therefore, we recommend all CNMI government entities take necessary steps to ensure a smooth audit process such as ensuring that personnel involved in working with the auditors are available, that files needed are complete, and accounting records are up to date.”
