Low grades for 40% of state companies in recent audit

Low grades for 40% of state companies in recent audit

Forty percent of state institutions and companies randomly audited late
last year by the Contraloría Nacional received grades below
"satisfactory" for their accounting, Comptroller General Gladys Bejerano
said, according to Prensa Latina.

Among the problems detected in the audits were "inventory, organization,
collectibles and payables without justification, as well as incorrect
handling of funds," a Contraloría official said. The below-satisfactory
institutions are in a "rectification process," she added.

Under economic reforms to be announced during a Communist Party Congress
April 16-19, loss-making state companies might be shut down.

Bejerano announced that another 750 institutions will be audited April
25 through May 31 by state inspectors and accounting students. This is
the sixth wave of audits in recent years, including two in 2010.

http://www.cubastandard.com/2011/04/08/low-grades-for-40-of-state-companies-in-recent-audit/