The Public Accounts Committee and the Public Enterprises Committee of the National Assembly on Monday rejected the report submitted by the Assets Management and Recovery Corporation (AMRC).
The two committees, which are sitting jointly, are continuing to receive and consider reports and financial statements of public institutions for the purpose of accountability.
This happened when the institution's managing director, Abdoulie Tamba, together with Yusupha Njie, the Finance Director, Sereign Mass Lowe, the Director of Operations and another senior official, Abdoulie Dibba, appeared before the deputies to submit the AMRC's annual financial statements, annual activity reports and management letters.
In her reaction, the Speaker, Elizabeth Renner, described the report as scanty and unacceptable.
She said: "Distinguish officers, you have heard the members when asked as to whether we can consider and adopt your annual financial statement, annual activity report and management letter and the response was 'No!' Maybe you will want to know why they all said 'No'."
According to her, the National Assembly committees have a policy whereby they normally have a preview of any institution before the house. During that preview session, she added, they look at what has been submitted and what the submissions are, and what concerns are there in the submissions.
She revealed that after a close look at the reports provided by the AMRC, they came to realise that the reports were in adequate, as a result of which they can't consider and adopt them.
"In fact looking at what you have submitted, we realise that there are defaults," Speaker Renner noted.
She added that AMRC has been one of the institutions that has failed to meet the targeted date and, therefore, could not be seen in the first part of the session. She further stated that despite an extension of the deadline for submission of reports, the AMRC still failed to provide some important details in their report.
"Looking at your submission, we found that you have not complied with what you have been asked to submit. You were asked to submit your annual activity report, your audited financial statements and the management letter. You did provide an audited financial statement and a management letter, but then you failed to provide an annual activity report," Speaker Renner added.
"If this was what you meant to be your activity report for us, it should not have come in this format, and it should not have been as scanty as this, because this tells us nothing," she said, adding that the reports were not meant for the committees at all.
"Since we did not see the report as expected, that is one major reason why we are saying we cannot see you now. We want to have some information from you as to the situation as far as your activity report is concern," she added.
