THOROUGH AUDIT

Sun (Auckland), Volume III, Issue 843, 11 December 1929, Page 10

THOROUGH AUDIT

TRANSPORT BOOKS KEPT LIKE TRADER S GOVERNMENT SATISFIED “There has been an erroneous impression that the audit earned out by the Government Audit Department is merely the checking of receipts and expenditure/’ said Mr. J. A. C. Allum, chairman of the Auckland Transport Board, this morning in commenting upon the board's book-keeping. “I have stated on many occasions that the Government auditor audits the books and accounts of the Transport Board as though they were the records of a trading company, Mr. Allum continued. “The balance sheet which is presented to the public is subject to just the same control as the balance sheet of any private concern. The auditor* pays particular attention to the allocation of charges as between the omnibuses and trams, and his requirements in this connection are strictly observed.” AUDITOR-GENERAL'S STATEMENT Mr. Allum made available a communication from the Comptroller and Auditor-General, who said that it was the endeavour of the Audit Office ensure that the accounts of local authority trading undertakings were kept in a manner conforming ns closely as possible to recognised commercial practice. “The audit of the board's accounts as carried out by the audit, inspector is not merely an audit of the receipts and payments, but it is a complete audit conducted in accordance with the principles laid down by recognised authorities on auditing,” said the Auditor-General.