(f). Exchange. In exchange operations in which the Government is frequently involved on general account, rates must, as in the previous cases cited, be accepted unchallenged; nor is it possible, for example, to ensure a healthy competition in the purchase or sale of drafts such as might be effected by local supervision.
Speaking generally of exchange, it may be confidently asserted that a good working knowledge of a subject which enters so largely into this Colony's accounting can only be acquired locally, and the criticism and suggestions of a competent auditor, to be of any practical use, must be made without the lapse of a long period.
(g). General. The limitations under which a Home audit of expenditure is conducted have not, however, been exhausted: there still remain that large variety of casual checks and cross-checks which can only be carried out by, as they can only be suggested to, a man on the spot.
That these limitations are to some extent realised by the Comptroller and Auditor-General may be inferred from the transfer to local audit of the examination of below-the-line accounts, etc., which was previously carried out at headquarters.
Before