Papua New Guinea's National Airports Corporation clears financial reporting backlog

The National Airports Corporation (NAC) of Papua New Guinea is making substantial headway in clearing a four-year backlog of audited financial reports. Recent progress indicates that the corporation is on the verge of having its financial reporting fully up-to-date.

According to NAC Acting Managing Director and CEO Dominic Kaumu, the 2021 financial report received final approval from the Auditor General last year. Furthermore, the audits for the 2022 and 2023 financial years have been completed. These reports are now undergoing the final review process within the Auditor General’s Office for official sign-off.

This development signifies a critical achievement for NAC, addressing a long-standing issue of delayed financial reporting. The completion of these audits is essential for transparency and accountability within the organization, which manages the country's key aviation infrastructure.

The corporation's efforts to rectify this backlog demonstrate a commitment to improving its financial governance and compliance. Once approved, these reports will provide a clear and current financial picture of NAC's operations.

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The 2021 financial report was signed off by the Auditor General last year, while the 2022 and 2023 audits have been completed and are now with the Auditor General’s Office for approval.