Njie, minister of Finance and Economic Affairs on Monday tabled the government
audited accounts report before deputies for scrutiny.
“The financial statements include only accounts that are controlled by the Accountant General’s Department and do not include public Enterprises, self accounting projects and local governments,” Finance Minister Mambury Njie said.
Mr. Njie further told deputies that there is a strong drive for government to adopt international best practice, adding that the government of The Gambia adopted IPSAS as the basis for preparing its financial statements.
“The adoption of IPSAS is a necessary element in strengthening the governance framework and enhancing transparency,” he told deputies.
Minister Njie explained that the main matters arising from the audit of the financial statements for the year ended 31st December 2016, and the comments thereto by the Ministry of Finance and Economic Affairs, through the Accountant General’s Department, are contained in the management comments section of the Management Letter of the Auditor General information and further clarifications have also been shared with the Auditor General.
“There has been considerable improvement in the timely preparation and audit of government financial statements in the recent past,” he said, adding that the preparation of the 2018 financial statements is currently underway, and this is expected to be finalised and the accounts submitted for audit by end of June 2019.
The Finance minister further informed deputies that government is currently upgrading the IFMIS in order to make it more responsive to changing requirements of improved Public Financial Management (PFM) service delivery.