A Papua New Guinea Government committee says the accountability and transparency surrounding the use of public money within all but five of 1000 PNG Government agencies has collapsed.
MP Sam Basil says the Public Accounts Committee finding is a sign PNG is a failed state.
The Committee chairman, Timothy Bonga says the findings have shown that the management and accountability by PNG's public servants and the government has collapsed miserably.
Mr Bonga says the Bank of PNG, the Institute of Public Administration, Post PNG, the Goroka Base Hospital and Alotau Hospital were the only government entities that are well-managed.
In 2008 the Committee had estimated that over the past 10 years more than 320 million US dollars had gone missing from PNG finance coffers.