By: Kebba AF Touray
As part of the audit of the 2019 Government of the Gambia Consolidated Financial Statements, the audit disclosed that they noted that Treasury Receipts amounting to D22, 319, 957.92 were reported as proceeds from the sale of assets by the Janneh Commission.
“We requested for documentation relating to assets disposed and their disposal proceeds, valuation for the assets disposed, appointment of auctioneers, auctioneers report, bank statements and copies of receipts issues but they were not provide,” said the audit on failure to provide information on Janneh Commission Proceeds.
According to the audit the implications of this includes but limited to an increased risk of lack of transparency and accountability leading to non-availability of corroborative evidence to support the sale of assets and receipts.
“The Accountant General should liaise with the related Ministry to ensure that the relevant documents requested are provided without delay. The dictates of the Constitution and the Financial Regulations should always be adhered to,” recommended the audit.
The audit revealed that there were grants totaling D92, 323, 463.51 disbursed directly to sectors during the year under review for which no record exists at the Ministry of Finance.
The audit thus recommended that reconciliation should be performed in respect of grants disbursed to, coupled with adherence to the Public Finance Act.
“The grants were directly disbursed to sectors during the year under review for which no record exists at the Ministry of Finance. Therefore could not be verified from source within the available space time,” said management.
The continued that they have noted that government revenue from the proceeds of confiscated smuggled timbers totaling D90, 618,000.00 from Senegal have been recognized under the statement of deposit as third party funds.
It however indicated that there is no evidence provided to show that proceeds from confiscated smuggled timbers are held in trust or on behalf of a third party.
“The implications are that there is a risk that government revenue and statement of deposit is misstated, and there is also a risk of internal control weakness,” said the audit.
The management responded that these funds were accounted for as Third Party deposit funds as the sharing modalities to the funds were yet to be established as at time of collection.
The audit contradicted this management response, adding that part of the funds was used to procure some riot equipment and vehicles amounting to D58, 669,927.79 and also D49, 999,999.75 was paid to the Government of the Republic of Senegal.
The audit recommended the need to adhere to the dictates of the Financial Regulations and the Accountant General should ensure that the accounts in question are properly monitored.
“These balances would be adjusted as part of the Revised Financials,” responded the management.
