By: Nyima Sillah
National Assembly Public Enterprise Community on Wednesday suspended the activity report and financial statement of GEIPA for failing to present letter of management.
Hon Halif Sallah committee chairman said: “we did inform the board that the standard that the committee has been appearing, is to consider the activity report and financial statement and ultimately management letter from the auditors. “
“The absence of the management letter assumes that; no risks exist and the key tasks of the committee are to put an end to the backlog and we are almost there” he said.
The committee reviewed the absence of the management letter and the indication is that, management letters that they have been receiving have been very useful in helping them to truly understand the risk that enterprises would have to address in order to be fit for purpose, he said.
However, Donald Kaye an official of GIEPA said, “We didn’t intend to issue the management report for 2018, because the 2017 report they have served for both years.”
“We will send a letter through management to boards that we didn’t issue management letter for 2018, and we will state the reasons. We will also encourage them to take note of the fact that financial statements have to be prepared and audited within giving time of the end of the year,” he said.
“We will prepare the management letter within a week because we already have the information in our files. But we need to give management the opportunity to react to the present state of the matters that have been reported”
