Last week, we reviewed the status of financial reporting and audit of non-Central Government entities which number 180 and comprising public enterprises, statutory bodies, municipalities and Neighbourhood Democratic Councils (NDCs). We stated that of the 100 public enterprises and statutory bodies, 58 were audited and reported on, as per 2022 Auditor General’s report. It is unclear what was position in respect of the remaining 42 entities. We noted that most of the accounts audited relate to backlogged years although the concerned entities are required to have their audited accounts presented to the National Assembly within six months of the close of the fiscal year. It is not clear how many of these entities have complied with these requirements.
Additionally, the accounts of several entities were in such a bad shape that the auditors were unable to express an opinion on them in terms of fair presentation and compliance with applicable laws, regulations, circular instructions and contractual obligations. Despite this, there was no evidence of any action taken to bring about respectability as regards the financial performance and state of affairs of these entities. We have stated on several occasions that in the private sector the slightest adverse comment from the auditors is likely to bring about changes in the management structure of the concerned entities.