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Title: Audit report slams Macau Foundation for failing to supervise subsidies worth 1.3 billion patacas
Authors: 澳門郵報
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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