Estimated Timeline to Complete Review and Checks on COVID-19 Related Procurement and Expenditure

Parliamentary Question by Mr Zhulkarnain Abdul Rahim:

To ask the Deputy Prime Minister and Minister for Finance in view of the Auditor-General’s Office findings and The Third Report of the Public Accounts Committee on COVID-19 related procurement and expenditure, what is the estimated timeline that the Ministry expects to complete its review of the controls and checks on COVID-19 related procurement and expenditure, including following up with the relevant agencies to rectify any errors uncovered and taking steps to recover any erroneous payments.
 
Parliamentary Reply by Deputy Prime Minister and Minister for Finance, Mr Lawrence Wong:

Agencies have conducted internal audits on COVID-19 spending since early 2022, which include reviews on the effectiveness of internal controls, as well as the validity and accuracy of payments. Findings and remedial actions from the internal audits are reported to the respective agencies’ senior management, as well as to their Audit Committees and Boards in the case of statutory boards. 

The $72.3 billion in COVID-19 spending included a broad range of public expenditure to safeguard public health and enable safe-reopening, and support measures for individuals and businesses in the form of grants, financing assistance, tax rebates and vouchers. Over half of the COVID-19 expenditure have been audited, and the remaining audits are ongoing and are expected to be completed by the end of financial year 2024.