Audit Office Announces 2024 Work Plan with 346 Audits Across Multiple Sectors

The upcoming audit agenda for the next fiscal year comprises 346 examinations and will notably focus on the Male’ Atoll floating city project, as revealed by the Audit Office in their announcement yesterday.

During a meeting held with the parliament’s public accounts committee to present the 2024 budget for the Auditor General’s Office, the Audit Office outlined its annual work plan for the upcoming year.

advertisement

advertisement

advertisement

The plan comprises a range of audit categories, including 294 finance and compliance audits, 39 audit reviews, five special audits, four performance audits, and four information audits, as stated by Director Mohamed Shan in his briefing to the committee. These audits will cover a wide range of entities, including local councils, state institutions, 39 state-owned enterprises, 30 government projects, and three public funds.

Notably, the Maldives floating city project has been designated for a special audit in the upcoming year. This joint initiative between Dutch Docklands and the Maldives government has experienced significant delays, with the project plan and completion date being repeatedly postponed resulting in limited progress to date.

Among other special audits scheduled for the following year are examinations of the State Trading Organisation (STO) and Fuel Supply’s oil stocks, as well as assessments of the SME Development Finance Corporation, Maldives State Shipping, and the Regional Airports Company.

During the committee meeting, the Audit Office requested parliamentary approval for a budget allocation of MVR 123 million for the office in the forthcoming year.