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October 27, 2021
News

PAC questions numerous Trust Accounts

Government Departments have been questioned overthe Secretary of a number of trust accountsthey have underthem.

The Public Accounts Committee raisedthe question in Monday’s hearing ofthe inquiry ofthe Auditor General’s Report ofthe 2008 Financial Year.

Chairman, John Hickey said to date, no Department has told PAC how many trust accountsthere are.

Chairman Hickey told withnesses this increases temptations of misuse

The Treasury Department has informed him of having 2500 trust accounts, butthere could be more.

Mr Hickey pinpointed Trusts 1 and 2 asthe most misused trust accounts.

Finance Secretary Stephen Gibson was not present on Monday to answer, despite being summoned.

Auditor General Phillip Nauna said both Trusts are being reviewed by his office and a report will be issued tothe PAC.

The PAC hearing intothe 2008 financial year report continues on Thursday.

Cedric Patjole, National EMTV News

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