By Kebba AF Touray
The Office of the Auditor General (AG) has reminded public institutions to submit their financial statements by 31st March 2025.
The reminder which was made through a press release and signed by the Auditor General Modou A. Ceesay, reminded board members and the management of public institutions of their statutory obligation to prepare and submit their financial statements for audit by 31st March 2025.
According to the press release, late submission of financial statements continues to pose a significant challenge for the National Audit Office to execute its constitutional mandate effectively. Consequently, the Office has initiated the issuing of press releases to raise public awareness in addition to formal letters sent to all institutions scheduled for audit.
The AG’s Office said the reminder also applies to public institutions whose audits have been outsourced by NAO and must ensure to submit their financial statements to their auditors by 31st March.
“Institutions are also reminded to ensure that their financial statements are credible and prepared accurately in accordance with their institution’s adopted financial reporting framework,” the release said.
According to the AG, NAO is concerned about the persistent delay in accountability processes including the late or non-preparation of Financial Statements which further leads to deficiencies in the National Assembly’s oversight responsibilities to citizens on the use of public funds.
“Thus in line with its mandate, NAO will submit a special report to the National Assembly regarding the list of institutions that submitted their financial statements on time, those that submitted late, and those that have not submitted at all,” the release asserted.
It added that these immediate corrective measures are required to restore accountability and safeguard public trust in public finance management.
The AG press release said public institutions are reminded that financial reporting is a fundamental aspect of their public financial management (PFM) system and that audited Financial Statements are not just bureaucratic or legislative requirements, but vital tools to ensure transparency, the effective use of public funds and effective governance.
According to the budget speech for 2025, the AG’s analysis highlighted the government’s reform agenda for the PFM system and they hope institutions will embrace the reforms to address the gaps in ‘our’ PFM system, those identified in the AG’s audit reports.
The release said the AG’s Office seized the opportunity to wish all stakeholders a prosperous New Year and look forward to their support and proactive actions regarding the audit report findings and implementation of all recommendations.
The release further said that collaboration with stakeholders is crucial for achieving the desired impact of audits and maintaining the ongoing relevance of Supreme Audit Institutions (SAIs).
“This principle is emphasized by the International Organization of Supreme Audit Institutions (INTOSAI) in Principle 12: “Value and benefits of SAIs: Making a Difference in the Lives of Citizens,” the press release concludes.
