TNAG-0760-FCO40-964-Annual-accounts-of-the-Hong-Kong-Government-for-1977-1978 — Page 159

ments, net losses of stores due to theft, fraud and negligence reported to me within the same period, amounted in value to $53,687.

98 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 as inadequately verified. I have however previously been assured that the stocks are turned over regularly in order to reduce the risk of any major discrepancy occurring.

99 Acknowledgement. It is again a particular pleasure to conclude this report with an appreciation of the cheerfulness, ability and sheer hard work of the staff of my department in the face of the ever growing volume and complexity of the tasks which they are called upon to undertake. Tribute must also be paid to other Heads of Departments and their staffs and to the officers of the Government Secretariat for the co-operative manner in which my inquiries have been received and dealt with.

Audit Department

Hong Kong

4 October 1977

G. E. LYTH Director of Audit

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