Statement of trust money

for the year ended 30 June 2012

Annual Report 2011/12

On 1 November 1996, the Office was appointed Secretary-General of the Pacific Association of Supreme Audit Institutions (PASAI). PASAI exists to encourage, promote, and advance co-operation among its public audit members.

Until June 2010, the Office carried out the financial transactions on behalf of PASAI, recorded in a trust account.

PASAI now operates through an incorporated society, with the financial records managed by the Secretariat. During the 2010/11 financial year, trust account balances were transferred to the Secretariat and the trust accounts were closed.

All trust money transactions were recorded on a cash basis. None of the transactions associated with the PASAI trust account are recorded in the statement of comprehensive income or the statement of financial position.

10 Opening balance at 1 July 0
0 Receipts 0
(10) Payments 0
0 Closing balance at 30 June 0

The accompanying notes form part of these financial statements.