Why did four federal agencies fail to submit their 2022 financial statements?

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Four Federal Agencies Did Not Submit 2022 Financial Statements Due to System Disruptions and Delayed Leadership Appointments

Four federal agencies were unable to submit their 2022 financial statements for auditing. This failure was attributed to disruptions experienced within the financial system network and a delay in appointing the chairman of the respective boards of directors. As of January 11, 140 out of 144 federal agency financial statements for 2022 had been submitted to the Auditor-General's office.
Systemic and Structural Delays Hindered Submission

The primary reasons cited for the non-submission by the four agencies were disruptions to the financial system network. Concurrently, the delayed appointment of the chairman of the board of directors for these agencies also contributed to the inability to meet the submission deadline. These combined factors prevented the complete submission of all required financial documentation for the 2022 fiscal year.
Auditor-General's Report Outlines 16 Recommendations

The Auditor-General's Report for federal agencies in 2022, tabled in Parliament, includes a total of 16 recommendations aimed at improving financial management. These recommendations encompass ensuring the timely submission of financial statements, proper utilisation of grants for their intended purposes, and adherence to loan repayment schedules to avoid additional financial costs for the government.
Emphasis on Reviewing Dormant or Underperforming Subsidiaries

Further recommendations from the Auditor-General suggest that heads of federal agencies should review the establishment of subsidiary companies. This review should specifically target subsidiaries that are dormant, consistently incur losses, or fail to generate satisfactory returns on investment. Such an assessment is crucial for optimising the financial performance and resource allocation of federal agencies.

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Why did four federal agencies fail to submit their 2022 financial statements?

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