Finance Minister presents audit report on Gov’t financial statement

By Landing Colley

Minister of Finance and Economic Affairs, Mambureh Njie has presented the auditor general report on audited financial statement of the Central Government of The Gambia for the year ended 31^st December, 2017 to the National Assembly Members on Monday.

Presenting the report, the Minister noted that “the financial statement includes only the account control by the Accountant General and Public Enterprises, Self-Accounting Project and Local Government excluded.“

Minister Njie told lawmakers that the accounts  are audited separately by external auditor through the office of the Auditor General  and  the financial statement also contains additional statement which is required by section 63 of Public Finance act 2014 and International Public Sector Account Standard (IPSAS).

According to him, the financial statement comprises of consolidated statement of price receive and payment  and  as for the International Public Sector Account Standard (IPSAS) that contains statement of the revenue and expenditure, consolidated fund, detail revenue, expenditure comparison fund, accounting policy  and explanatory note.

He pointed out that the financial statement has been prepared in accordance with the legal and regulatory frame work of the 1997 Constitution, Public Finance Act 2014 finance regulation 2016 and   International Public Sector Account Standard (IPSAS).

The (IPSAS) as the bases for preparing financial statement adoption has been necessary implemented in strengthening government frame work and enhancing transparency.

He also said the main matters arising from the audit of the Finance Department for the year ended 31^st December 2017 and the reaction by the Ministry of Finance And Economic Affairs through the Accountant General are contain in the management letter of commence  session of the management  auditor general.

He disclosed that the audit of 2018 Financial Statement is currently ongoing while the preparation of 2019 Financial Statement is underway and this is expected to be finalized and account submission for audit by end of March 2020.

However the National Assembly member has referred the report of the Auditor General on audited Financial Statement of the central government of The Gambia for the year ended 31^st December, 2017 to Finance and Public Department committee of the National Assembly.