PNGNOC clarifies issues on acquittals

The Papua New Guinea Olympic Committee Inc. (PNGOC) has come out to clarify concerns raised in the media regarding the acquittal of funds for the 2015 Pacific Games.

A report in The National newspaper of November 11, 2016 stated that the 2015 Pacific Games Organising Committee failed to acquit K11million of funds in 2013 and that the Auditor General did not audit the financial statements of the company.

President of the Papua New Guinea Olympic Committee, Sir John Dawanincura responded that all due processes were followed in the acquittal of the funds.

He said the K11million funds received by the 2015 Pacific Games Organising Committee, in 2013, were acquitted directly to the Department of Finance as per the due process, through the 2015 Pacific Games Authority.

The Pacific Games Organising Committee is a legally constituted corporate entity, known as PNG 2015 Pacific Games Ltd, governed by the Investment Promotion Authority (IPA) Corporations Act, and as such, was audited by independent accounting firm, Deloittes, and not by the Auditor General’s office. The audited financial statements have been lodged with the IPA.

The same newspaper report in The National went on to state that the PNGOC received K10,082,400 in 2013, for the training costs of Team PNG athletes, and that the documentation was not supplied to the Auditor General’s Office.

The K10, 082,400 funds received by PNGOC were acquitted directly to the Department of Finance as per the due process, also through the 2015 Pacific Games Authority.

The PNG Olympic Committee Inc is a legally incorporated association, governed by the IPA Incorporated Associations Act, and as such, was also audited by independent accounting firm, Deloittes, and not by the Auditor General’s office. The audited financial statements were presented to the PNGOC members at their Annual General Assembly in 2014.

“As per due process through the 2015 Pacific Games Authority, we were required to acquit all funds received, on a quarterly basis, to the Department of Finance, in order for the next tranche of funds to be released.

“Yes, we were contacted directly by the Auditor General and we pointed out that full acquittals had been done directly to the Department of Finance and that the Auditor General’s Department was more than welcome to review our copies of the documents lodged,” Sir John said.

An officer from the Auditor General's office took up this offer and reviewed these files from July 12 to 14, 2016 at the PNG Olympic Committee Office.

 

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Press release