Public Accounts Committee Comments on States of Jersey Financial Report and Accounts 2016
Friday 9 June 06:32
The PAC, whilst content that financial performance is good because of the underspend against budget and the strong performance of investments, remains concerned that the antiquated systems and processes used by States Departments, produce accounts which are not as timely as they could be. Furthermore, the PAC echoes concerns of the C&AG regarding the resources required for their compilation and how effectively they target the needs of different users.
The PAC is also concerned that there is no comprehensive reporting of performance in the annual report alongside the accounts. The collation and accessing of information is key to establishing effective States-wide performance management allowing a more complete and coherent picture to emerge.
Chairman of the Committee, Deputy Andrew Lewis said:
“Addressing that concern will require more than just the replacement of the core financial systems, it will need the establishment of an effective performance management structure across the States. The PAC will continue to hold the Treasurer to account and robustly scrutinise the implementation of its, and the C&AG’s recommendations.”