03 May 2019 07:00am
WINDHOEK, 03 MAY (NAMPA) - The Office of the Auditor-General (OAG) will, due to limited funds in the 2019/20 financial year, only finalise 105 audit reports, compared to 133 in the previous fiscal period.
This was announced by the Minister of Finance, Calle Schlettwein when he motivated the OAGs N.dollars 109 265 000 budget for the 2019/2020 period in the National Assembly recently.
Schlettwein said that the 105 reports to be finalised include 40 government audit reports, 54 regional and local authority and statutory body audit reports as well as 11 specialised audit reports.
He added that aside from the shortcomings, the office will continue to conduct its audits in line with international audit standards and would strive to improve the quality of its processes.
He also highlighted that in the 2019/2020 financial year, the office will focus on public expenditure oversight, independence, legal framework, policy co-ordination and support services.
During the previous financial year, the OAG tabled 133 audit reports for local authorities, Offices/Ministries/Agencies including State-Owned Enterprises, Funds and Regional Councils, the finance minister informed the August House.
The office, he went on to say, also tabled two performance audit reports covering sewerage infrastructure and coastal management.
The OAG continued to face challenges pertaining to the late or non-submission of financial statements and non-implementation of audit recommendations, he added.
He explained that many times the Auditor General reports identify gaps in governance and public finance management that need to be attended to by accounting officers.
Some of the issues highlighted in these reports are related to weakness in internal controls, absence of risk management process, over expenditure, lack of audit committees, non-compliance to rules and regulations, misuse of daily subsistence allowances, non-reconciliation of suspense accounts, absence of business continuity plans and controls over government assets, he said.
He stated that in order to fulfil the audit mandate, the OAG needs resources to conduct asset inspections though the country, to ensure that relevant controls are in place.