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MVA gets consecutive clean audits
The Marianas Visitors Authority has completed its independent audit report for fiscal year 2017, receiving an unqualified opinion with no reportable conditions in internal control identified.
Since it began conducting internal independent audits, the MVA has received a clean audit each time with no findings in the inspection of its financial statements to test internal control and compliance with Government Auditing Standards.
Auditing firm Burger Commer Magliari CPA found no reportable conditions in internal control over financial reporting and no instance of noncompliance considered material to the financial statements.
“We are very pleased to continue the MVA’s longstanding track record of clean audits with this latest review, which provides an assurance to the public that the MVA is managing its budget in compliance with all relevant accounting rules and regulations. As an autonomous CNMI government agency, we’re proud of this accomplishment,” said MVA managing director Christopher A. Concepcion. “In addition, a vast majority of our budget goes toward marketing and promotions and improving the destination, and much less to personnel and operating expenses. We remain committed to using these public funds effectively and efficiently to sustain and grow the Marianas tourism economy.”
As of the date of the audit report, the MVA is also current in its financial obligations with both offshore and local vendors. The MVA had no findings in fiscal years 2017 and 2016, according to the report. (MVA)
