Public hearing committee to examine NBC's 2012/13 finances

03 Nov 2016 17:40pm
WINDHOEK, 03 NOV (NAMPA) - Members of the Parliamentary Standing Committee on Public Accounts are to scrutinise the accounts of the Namibian Broadcasting Corporation (NBC) for its 2012/2013 financial year.
This was said by the chairperson of the committee, Mike Kavekotora during the second hearing on the public broadcaster’s finances on Thursday, where NBC submitted its books and proof of transactions done during the period under review.
This follows the first hearing in July this year, which could not proceed as the NBC could not account for outstanding monies and financial activities for that financial year.
“We are very appreciative of the approach of NBC to provide books which the committee will work from. Although not all books were provided, we understand you did your best to give us most of the information. Should there be anything more outstanding, we will make a request that we be provided with it,” Kavekotora said.
In July, the committee summoned NBC to explain unapproved amounts of N.dollars 7.8 million in credit notes; N.dollars 1.9 million in billing amounts and N.dollars 2.5 million for advertising.
An audit report for the same financial period compiled by the Office of the Auditor General also found the NBC could not explain commission and payments to agencies, and lacked a proper paper trail on TV licence debtors.
The report also revealed that the NBC engaged in transactions in radio advertising amounting to N.dollars 1.2 million for which there was no approval. The contracts of these clients were not provided to the Auditor General.
However, during the hearing NBC Director-General Stanley Similo told the committee that in 2013, no proper financial systems were in place, and that when the audit was done, much of the information did not correspond.
Similo further explained that they used to have major challenges with their filing system.
The current system, he explained, allows them to track their activities in an efficient and manageable manner.
“The documents provided are not in complete form but will give a picture of what was happening. There were discrepancies in the system, but that is a thing of the past now. As a DG I try to be hands-on about day-to-day transactions, so I am positive the next audit will indicate positivity,” Similo said.