Ms Viengthong Siphandone

(KPL) President of State Audit Organisation, Ms Viengthong Siphandone told the ongoing 3^rd Ordinary Session of the National Assembly that the audit conducted by her organisation has suggested that 3.135 trillion kip (USD 384.776 million) have been found as additional revenue and the amount represented 3.11 percent of the total state revenue.

Ms Viengthong’s audit report also suggested that 9.819 trillion kip (USD 1.204 billion), equivalent to 8.15 percent of total state expenditure, has been proved as additional expenditure.

After learning the result of the audit conducted by the State Audit Organisation, the National Assembly and the government issued resolutions, orders and announcements determining correctional measures and as a result, a large amount of money has been retrieved and sent to the state budget. Financial rule violations, including the invention of fake projects have decreased.

New regulations have been approved to address revenue leakage problems and create favourable conditions for the working environment of relevant authorities and the improvement of accounting and finance systems have been promoted, especially through the revision of the state accounting system manuals and the improvement of national treasury accounting systems at central and provincial levels.

“The implementation of planned audit activities over the past five years have been given sound support and won trust from relevant sectors in society as the audit authority has exerted the role authorised to it by the Party and people, performing its authority openly, transparently and by means acceptable to all sectors and according to the audit procedures,” said Ms Viengthong.  

The audit conducted by the State Audit Organisation focused on the implementation of state budget expenditure and revenue collection between the fiscal years of 2010-2011 and 2014-2015.

KPL