Some Government assets without coverage
AUDITOR GENERAL Leigh Trotman is concerned about the lack of insurance coverage for some state assets.
In his latest annual report, Trotman highlighted a number of instances where Government agencies did not indicate whether they had the expected insurance coverage against certain risks.
One was the ministry of agriculture which did not provide any evidence “to substantiate that assets of the Ministry other than vehicles were insured for the period April 1, 2013 to March 31, 2014”.
“This is a breach of the Financial Management and Audit Rules 78(5),” he wrote.
It was pointed out that the ministry held several high value pieces of equipment and the absence of insurance coverage had exposed the ministry to the risk of not being able to recover compensation for assets lost or damaged during the period. (ES)
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