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|Title: ||Audit report slams Macau Foundation for failing to supervise subsidies worth 1.3 billion patacas|
|Keywords: ||scrutinising five|
|Issue Date: ||2012-06|
|Abstract: ||However, according to the findings by the Audit Commission gathered after scrutinising five
associations’ applications, the foundation had no official records about any updated financial
information submitted by the five applicants during the period that the foundation evaluated the
applications, the audit report pointed out.
Examples raised in the audit report show that an association informed the foundation that it had
expected “no income” in the year but at the same time it had applied for a subsidy of 30,000
patacas from another entity when the association submitted an application for over 24 million patacas
as its annual operation expenditure.|
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