Lao auditors find Bt1.85 billion in revenue

SAO president Viengthong Siphandone revealed the findings of the audit for the 2011-2012 fiscal year’s budget implementation plan at a press conference on Monday. 

Auditors also found more than 4,242 billion kip was spent without approval from the National Assembly. 

According to the audit report, state spending for the 2011-2012 fiscal year reached more than 19,115 billion kip, while just over 17,263 billion kip was collected as revenue. 

Yesterday’s media conference took place after Viengthong presented the audit report to the National Assembly last month. 

The report disclosed that many state organisations and enterprises infringed the financial regulations including authorising spending without the parliament’s approval. 

In addition, some state organisations are holding two separate bank accounts, which resulted in problems such as the fact that not all revenue collected from technical services and timber sales by state bodies has flowed into a centralised account, as required. 

In this regard, the parliament, in its ordinary session last month, resolved that those state organisations that breached the financial regulations in the 2011-2012 fiscal year will have to make an additional contribution of more than 389 billion kip into revenues for 2014-2015. 

The additional 389 billion kip should be collected from professional and technical services provided by those organisations, but grants and other mobilised funds will not be recognised as contributions.  The parliament described the breaches of the regulations as a “chronic problem” and expressed concern over the issues, calling for the government to take measures to punish those in question. 

The National Assembly asked the SAO to work with the Finance Ministry to take follow-up action towards addressing these issues in line with the eight measures drawn up and presented by the SAO.