The
September 25 - October 8, 2024
1
Kaselehlie Press
The
September 25, 2024
Free bi-weekly publication
KASELEHLIE PRESS PO Box 2222 Kolonia, Pohnpei, FM 96941
Kpress@mail.fm
Vol. 24 Issue No. 21
(691) 320-6547
PICS High School Robotics Team gears up for first Global Challenge 2024 in Athens PICS Media Club
and Mr. Burton, and the all-out support of Ms. Darla, with the unwavering support of the school administration under Principal September 21, 2024 Seiola, the students have honed their skills in engineering, Pohnpei—The PICS High School teamwork, and critical thinking, all essential elements for success Robotics Team is poised to make in the competition. waves as they prepare to represent the Federated States of Micronesia at the This is again an incredible opportunity for our students to prestigious FIRST Global Challenge showcase their hard work and creativity on a global stage. 2024. Taking place from September 26- Competing alongside peers from different countries will not only 29 in Athens, Greece, this international enhance their technical skills but also broaden their understanding competition brings together young of diverse cultures and ideas. innovators and problem solvers from around the world. The FIRST Global Challenge emphasizes STEM education and encourages participants to tackle real-world challenges through With a reputation for excellence, the robotics. PICS team has dedicated countless hours to designing, building, and The journey to Athens is not just about the competition; it’s programming their robot. With the also an opportunity for personal growth and development. former Robotics adviser Ms. Tekaeto, Click here for continuation on page 4 and the new advisers Ms. Rhodora
FSM Treasury audit reveals systemic control failures and fraud risks By Bill Jaynes The Kaselehlie Press
been received. “Nevertheless, we anticipate positive implementation of our recommendations based on September 20, 2024 management’s feedback during the FSM—Due to the highly publicized exit conference,” stated the cover “fraud incident” discovered in 2023, letter to the audit. the FSM Office of the National Public Auditor initiated an audit of The first finding was that the internal controls within the Treasury National Treasury, which handles Division, covering fiscal years 2022 all public financial management and 2023. Auditors concluded, based activities for the FSM Government, on four findings reported in the audit operates without documented released earlier this month, that standard operating procedures the “internal controls for payment (SOPs). Auditors noted that the root and reconciliation processes…were causes for this finding were that insufficient and ineffective.” former Department of Finance and Administration Secretaries never Auditors requested a written response initiated plans to develop policies and from the management of DoFA, procedures following amendments to which, after a month, still had not the financial management regulations.
Furthermore, past financial advisors, who were mostly expatriates, did not perform their roles, which included developing a manual of procedures and training staff in the Treasury Division.
of the bank accounts, which also includes the National and State Imprest funds. Auditors warned that the lack of SOPs could lead to “possible incidents of fraud, misuse, abuse, and financial losses for the National Government.” They did not specify that the type of fraud that could occur is the same type for which a former Treasury employee is currently standing trial.
Auditors highlighted that recent changes were made to strengthen the controls in the payment process in 2023, but there was no documented communication of these changes. They found that the changes were only verbally communicated to the Auditors cited several causes, including the lack of SOPs, for the involved staff. finding that the Treasury Division The audit team interviewed the bank has an insufficient and ineffective reconciliation team and discovered bank reconciliation process. They there were no documented procedures to guide the monthly reconciliation Click here for continuation on page 4