“The auditors observed that a loan of D1,729,756.20 for Ex-staff has not been moving and none of them made a payment in the subsequent year period,” The committee report states.
The committee also recommended that the Board and Management of AMRC put in place an effective payment plan to recover the loan.
The report further stated that the auditors observed that “AMRC has no updated Insurance policy in place” for covering the value of the building and its equipment from 24 July 2020 to 24 July 2021.
“In addition, the policy that covered the value of the building and equipment from 24 July 2019 to 24 December 2020 covered a total value of GMD2,424,400 rather than the net book value of GMD3, 705,563,” the report noted.
The Committee also recommended that the Board and Management ensure that “all the value of the assets of the Corporation are adequately insured”.
The report highlights that the AMRC does not have any disaster recovery plan in place for maintaining the going concern and operations of the Corporation in case of a disaster event occurring.
The Committee further recommends that the Board and Management “put in place adequate disaster recovery plan” to ascertain swift restoration of systems and operation.
