The Office of the Virgin Islands Inspector General released its audit report on the operations of the 2004 Virgin Islands Carnival Committee. We found that although in general the Committee had good internal controls over revenues and disbursements, it did not: (i) reconcile all collections from the ticket outlets; (ii) control tickets distributed to the Stadium outlet; (iii) follow established procedures in the use of the purchase order form; (iv) ensure that checks were properly voided; (v) file all of the required financial reports as required by the Code; and, (vi) use the correct method of accounting when submitting the profit and loss statement for the 2004 Carnival activities. To view the report, click here.