30
3.
lies on the Government with regard to the preliminary
stages remains unanswered.
7. I therefore submit that I should have been
kept fully informed of any decisions reached affecting
the preliminary accounting. As cheques forwarded
both with the application letter and the final allot-
ment were to be made payable "to the Hong Kong Govern-
ment" the accounting for these receipts is, I submit,
a matter in which this Department is closely concerned.
Furthermore I am quite unable, without
8
instruction, to accept the rather novel principle that
because the Treasurer is satisfied with any portion of
the public accounting audit can therefore be foregone.
Bearing in mind the very large frauds which in
recent memory have been perpetrated with which both the
Treasury and local Banks were concerned the seeming
reluctance to afford the fullest of information to the
Audit Department is not easy to understand.
9. As the whole question appears to me to be one
of primary importance I am referring the matter to you
before pursuing it further locally.
10. Copies of the Prospectus, the Application Letter
and the Allotment Letter are forwarded herewith.
I have, etc.
(Sa) P.L. COLLISSON.
Auditor.
Page 30Page 31
No.87/99.
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