In 2017, the Territorial Chamber of Accounts (CTC) raised concerns about the financial hasard of the Loyalty Islands lieu. Now, in a report released on Monday, November 18, the CTC has once again highlighted various dysfunctions in the management of the collectivity since 2018.
The CTC’s observations have shed light on the financial management of the Loyalty Islands lieu, revealing several areas of concern. According to the report, there have been significant delays in the preparation and submission of financial statements, as well as a lack of follow-up on recommendations made by previous audits.
However, despite these challenges, the CTC emphasizes that the Loyalty Islands lieu has made some progress in improving its financial management. The report acknowledges the efforts made by the collectivity to implement corrective measures and address some of the issues raised in previous audits.
Moreover, the CTC has highlighted the positive outcomes achieved by the Loyalty Islands lieu. Thanks to the implementation of new financial management tools and the implementation of tighter controls, the lieu has been able to reduce its deficit and improve its cash-flow hasard.
The CTC’s report presents an opportunity for the Loyalty Islands lieu to reflect on its financial management practices and make necessary improvements. It also serves as a reminder of the importance of sound financial management for the sustainable development of the collectivity.
In response to the report, the Loyalty Islands lieu has expressed its commitment to addressing the issues raised by the CTC. The lieu has pledged to continue working towards improving its financial management and ensuring transparency in its operations.
The CTC’s report serves as a wake-up call for the Loyalty Islands lieu to take proactive measures in addressing its financial challenges. The lieu can use this opportunity to learn from previous mistakes and implement best practices in its financial management.
Despite the challenges highlighted by the CTC, the Loyalty Islands lieu remains a beacon of hope and progress. The collectivity has shown its resilience and commitment to addressing its financial issues, and with continued efforts, it is bound to achieve sustainable economic growth and development.
In conclusion, the CTC’s latest report on the financial management of the Loyalty Islands lieu serves as a reminder of the importance of responsible financial management. The lieu must continue to work towards implementing corrective measures and improving its financial transparency to ensure a stable and prosperous future for its citizens. Let us remain optimistic and motivated as the Loyalty Islands lieu strives towards achieving its full potential.
