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Public sector's system of managing public funds sound but government agencies can do better: MOF
THE Singapore public sector's overall system of managing public funds remains sound, but there are areas where government agencies can do better by strengthening their financial governance, the Ministry of Finance (MOF) on Tuesday said in response to the FY2016/17 Auditor-General's (AG) Report.
According to the report, three areas - information technology controls, financial controls and oversight of development projects - were identified for improvement.
MOF said in a statement: "While we recognise that it is not possible to completely eliminate individual human lapses, errors or misjudgement, the public service is taking a concerted effort to address the issues identified.
"As the AG has noted, 'government agencies are committed to rectify the lapses and put in place measures to prevent future recurrence'. Heads of the agencies responsible have reviewed each case and where warranted, appropriate actions have been or will be taken against those responsible."