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WELLINGTON, New Zealand (RNZI, Sept. 6) - An audit shows that
five of six Marshall Islands embassies were unable to properly reconcile their
petty cash funds during fiscal year 2002.

The Deloitte Touche audit identified them as the missions in
Washington, Fiji, Tokyo, Honolulu and at the United Nations in New York.

The audit says this shows inadequate controls over petty cash
and bank reconciliation, resulting in the possibility of misappropriation of
Marshall Islands assets.

Only the Marshall Islands Embassy in Taiwan was able to properly
reconcile its petty cash fund in 2002

The audit recommends that the Secretary of Finance issue rules
and regulations governing reporting of petty cash funds for off-island

Finance Secretary Saeko Shoniber says the Ministry has now
provided forms for reconciliation to each embassy and is providing on-going help
to the embassies to do the job properly.

September 8, 2003

Radio New Zealand International: 


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