Press Release

Government Revenue Course Conducted for Auditors from the FSM National Government and Pohnpei State

A one-day training course on government revenue held at the Federated States of Micronesia Telecommunication Corporation's conference room was referred to as an eye-opener by one of its participants. “The one-day course was very useful, informative and productive,” said another participant Ms. Sophia Pretrick, CFE. The conference was conducted by Ben Privitt from the Department of Interior, Office of the Inspector General in Guam . In a new direction, it taught the public auditors from the National Government and Pohnpei State to expand their focus to also include examining the revenue side of the government financial accounts in addition to the traditional focus on government expenditures.

It introduces the Revenue Management System as an audit tool to provide more effective assessment, collection, recording, safeguarding and reporting of government revenue, e.g. the FSM Government revenue generated by the collection of import duties, fishing rights and taxes, etc. It is a critical audit tool in light of the diminishing financial assistance under the Amended Compact. The Governments must not only seek new ways and means to supplement its revenue base but also ensure that its system for assessing, processing, collecting, recording, and safeguarding its current revenue streams are adequately handled.

Eight hours of Continuing Professional Education (CPE) were earned by each participant. It was a useful course provided at free of charge to the National Public Auditor's staff from its Main Office in Palikir and its new Field Office in Chuuk including Pohnpei State auditors. We express our appreciation to DOI/OIG through its representative on Guam and the FSM Telecommunications Corporation for making it possible for the effective delivery of the government revenue course.