No financial record kept of asset transfers from Treasury to Companies: Auditor General

Auditor General Niyaz Ibrahim has said today that no financial records were kept of the assets transferred from State Treasury to Health Corporations and other Companies.

Niyaz made this statement while speaking to Parliament’s Finance Committee on the maintenance of state financial records.

He referred to the transfer of assets from Health Ministry to Health Corporations, and said that no records of these transactions were kept by Health Ministry or Health Corporations.

“No valuation is done, or financial records are kept for such transfers. Asset transfers should be clearly recorded,” he said.

He said that this was a common mistake, of which not just the Health Ministry is guilty.

“This is a common problem, not just in Health Ministry’s case. There have been several cases where asset transfers were handled negligently.”

He said that action should be taken against such negligence as soon as possible, and that the records should be revised.

Several utilities and health corporations were created during former President Mohamed Nasheed’s administration, resulting in several asset transfer transactions.