• Submitted by: manso
• Business and Economy
• 06 / 22 / 2011

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State company accounting improves slightly. Although the number of problematic accounting cases at state companies continues to be high, the trend is slightly improving, if new data provided by Comptroller General Gladys Bejerano is an indicator.

Thirty-seven percent of more than 750 state companies audited in April and May have "deficient" or "bad" accounting, Bejeranos said in an interview with official weekly Trabajadores. That compares to 40 percent in an audit performed in late 2010.

The remainder had "satisfactory" or better assessments.

At the same time, the number of deficient state companies in the capital Havana rose in the latest audit from last year, to 59 of 132 entities that were controlled, according to Granma.

This was the sixth round of audits in recent years, including two in 2010. Among the problems detected in the audits in late 2010 were inventory, organization,collectibles and payables without justification, as well as incorrect handling of funds. The below-satisfactory institutions must go through a "rectification process."

Under economic reforms to be announced during a Communist Party Congress in April, loss-making state companies might be shut down.

In the Trabajadores interview, Bejerano urged for "more responsibility" on part of executives and workers, to improve efficiency.

"The Comptroller General's office asks those who have the complex task of directing and administrating to eradicate, for once and for all, the conditions that feed opportunism, delinquency and corruption," she said, according to Trabajadores.

Often, administrators want to "produce at all costs," she said, adding that irregularities were found at some companies that had won awards for their production. "It's true that producing is important to advance the country's development. But it must be done with quality and good results."

Source: //www.cubastandard.com/2011/06/21/state-company-accounting-improves-slightly/