04/11/2011
Review Of €3.6bn Accountancy Error Due
An internal review of a €3.6bn State accounting error is hoped to be completed by the end of the month it has been revealed.
The Secretary General of the Department of Finance, Kevin Cardiff, has however confirmed that the error occurred when a payment between state agencies had been counted twice.
Mr Cardiff said that the report would be completed by the line managers concerned and would include a quality assurance check.
Meanwhile he also confirmed that no formal action was taken when the error first arose and it would now form part of the review.
The National Treasury Management Agency (NTMA) alerted the multi-billion-accountancy mistake to the Mr Cardiff’s attention calling the error 'unacceptable'.
The mistake has been pegged as an absolute disaster and a review into it will continue with completion estimated for the end of this month.
(LB)
The Secretary General of the Department of Finance, Kevin Cardiff, has however confirmed that the error occurred when a payment between state agencies had been counted twice.
Mr Cardiff said that the report would be completed by the line managers concerned and would include a quality assurance check.
Meanwhile he also confirmed that no formal action was taken when the error first arose and it would now form part of the review.
The National Treasury Management Agency (NTMA) alerted the multi-billion-accountancy mistake to the Mr Cardiff’s attention calling the error 'unacceptable'.
The mistake has been pegged as an absolute disaster and a review into it will continue with completion estimated for the end of this month.
(LB)
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