The RMI Ports Authority has done it again! For the third straight year, the RMIPA has achieved a “no findings” audit report from Deloitte & Touche.
“This did not happen by pure luck or chance,” said RMIPA Director Jack Chong-Gum. “It happened because of the professionalism, honesty, and perseverance of all the people that are involved in the management and operation of the RMIPA, from the Board of Directors all the way to the line maintenance staff.” A special kudos to the RMIPA Finance Team!
Director Chong-Gum went on to say, “This is truly an amazing and unprecedented feat for the RMIPA as a public agency of the RMI Government, considering that it has directly managed on its own more than $70 million of U.S. Federal grant funds since 2006. And not a single penny went missing!”
Like any other public agency or state-owned enterprise, the RMIPA is required to be audited each year by external auditors to ensure that its financial records and how it spends public and federal funds are in compliance with the stringent requirements of Generally Accepted Accounting Principles (GAAP) and OMB Circular A-133. The unqualified audit report that the RMIPA received for fiscal year 2014 simply means that auditors have determined that each of the financial records provided by the RMIPA is free of any misrepresentations and in accordance with the standards stated above.
More information on the RMIPA’s audits can be obtained by contacting the RMIPA or visiting the RMI Auditor General’s website at www.rmiaog.com.