GENERAL
80. Boards of Survey, Currency Stocks. As in previous years the limited space available for the storage of currency stocks and the security risk which might be posed by the large labour force needed to move the boxes of coin, prevented the Annual Board of Survey on those stocks from inspecting every box and seal individually. The present system of storing coins is likely to continue into the foreseeable future and whilst the existing degree of check is the best that can be achieved in the circumstances, for so long as this situation pertains the survey must to some extent be regarded as incomplete and the currency stocks inadequately verified. I have however previously been assured that the stocks are turned over regularly in order to reduce the risk of any major dis- crepancy occurring.
81. Acknowledgement. For the reasons stated in paragraphs 4 and 5 of this report this has been a partic- ularly difficult year and it is therefore no mere formality when I express my appreciation of the efforts made by all ranks of the department to maintain the high standard of efficiency which is quite properly expected in the exercise of the audit function. The ready co-operation of the Director of Accounting Services, the Director of Government Supplies, and other Heads of Departments and their staff is also gratefully acknowledged.
Audit DEPARTMENT,
HONG KONG,
5th October, 1976.
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G. E. LYTH, Director of Audit.