Consolidated financial statement of the Government of the Maldives : financial year 2021

Abstract

The purpose of this report is to express an opinion on the Consolidated Financial Statements (CFS) of the Government of Maldives for the financial year ended 31 December 2021, pursuant to the Audit Act (Law No. 4/2007), and to express an opinion on whether the Government has spent funds out of the annual budget approved by the People’s Majlis for the achievement of its objectives and the purposes intended in the budget and within the limits set therein, and whether it has complied with public finance legislation in conducting financial operations of the Government. It also aims to present to the Minister of Finance (the Minister) the issues observed in the audit and the recommendations thereof, pursuant to Section 39 of the Public Finance Act (PFA) (Law No. 3/2006), and to submit these issues and recommendations to the President and the People’s Majlis, pursuant to Article 213 of the Constitution. This report will also be placed on the Auditor General’s Office (AGO) website: www.audit.gov.mv. The report is made up of three sections. Section one comprises our opinion on the CFS; section two presents our opinion on compliance with the PFA, the Public Finance Regulation (PFR), and the parliamentary authorities in spending out of the budget approved for the Government; and section three comprises an analysis of financial highlights for the CFS 2021.