The
Ministry of Finance and Economic Affairs (MoFEA) and the Auditor General’s
department yesterday presented the Government Audited Accounts for 2012-2013 to
the Public Accounts and Public Enterprises Committees (PAC/PEC) of the National
Assembly.
Tabling
the government audited financial statement for 2012-2013 before lawmakers, the
Auditor General, Karamba Touray, said the debt database at the Ministry of
Finance has the capability to capture domestic debt information.
However,
he said, the ministry does not maintain any domestic debt information, but
instead relies on the Central Bank for domestic debt information.
He
said the discussions with officials at MoFEA revealed that management of
domestic debt is delegated to the Central Bank through an MoU signed between
the two institutions.
Evidence
of the MoU was not presented for audit review, he said, adding that there was
no evidence of periodic independent review by the Ministry of Finance of all
domestic debt information provided by the Central Bank.
Mr
Touray further made recommendations and the implications it would have on the
above issues, saying: “There is a risk that domestic debt information by the
Central Bank is not accurate and complete leading to misstatement of the
financial statement.”
“We
recommend that all domestic debt information is captured by the Ministry of
Finance, and the documentation remained outstanding up to time of finalising
the report.”
He
made a detailed finding on section 158 of the Financial Instructions, stating
that: “The originals of payment vouchers and supporting document will be filed
in numerical order by month and year by the Treasury directorate, to be
available for audit and other inspection purposes.”
He
said payment vouchers and other documents (credit, memos, journals) amounting
to D175, 466,433.64 for the year ended 2012 and payment vouchers amounting to
D444, 208,111.44 for the year ended 2013 were not presented for audit.
“We
recommend that all payment vouchers are filed in numerical order by month and
year as required by the Financial Instructions,” he added.
The
permanent secretary at the Ministry of Finance and Economic Affairs (MoFEA),
Lamin Camara, who responded to all the queries and recommendations made, said
the Ministry of Finance has started receiving domestic debt data since the
beginning of 2015.
Furthermore,
he added, they have established a taskforce to work on the backlog which shall
be completed by the end of 2016, and the memorandum of understanding is
available at the accounting unit of the Accountant General’s Department for
review.
PS
Camara also said they have reviewed the list of the unpresented payment
vouchers and the analysis accordingly.
MoFEA
authorities and the Auditor General are expected to return to the National
Assembly today for consideration of the report on Government’s Audited Accounts
for 2012-2013.
