General News

Breaking News

Kenyan Auditor-General submits final audit report on GAC

Benjamin S. Taingay
Kenyan Auditor General, Edward R. O. Ouko
Kenyan Auditor General, Edward R. O. Ouko

MONROVIA, LIBERIA-Final audit report on the General Auditing Commission (GAC) has been submitted to the National Legislature by the Kenyan Auditor General, Edward R.O. Ouko.

Mr. Ouko said highlights of the six year report as presented to the Joint Public Account Expenditure and Audit Committee of the Liberian  Legislature at the Capitol, Tuesday,  April 26,2016 show major defaults in the GAC accounting system.

He said these defaults were prompted by the unavailability of trial balance, and general ledgers, among other things, for a period of four years ranging from 2010-2014.

The report also unveiled that the GAC financial statements, during the four-year period, were found to be non-compliant with international public sector standards.

It said there were undisclosed and domicile bank accounts which evidently had transactions that were not included in the GAC's bank balance.

The Kenyan Auditor General also said there was uncertainty about the inclusion of transactions from accounts in the accounting records, and specific issues covering expenditure for training, procurement of furniture and equipment that were not properly documented.

Mr. Ouko further noted in the report, that there was substantial funding from the European Union (EU) not properly documented, or not captured in the GAC financial statement, and that there were no deduction, or remittances of employees and employer’s contributions.

According to Ouko, the situation led to an accumulated liability for non-compliance estimated to over US$593,000.

He said in 2012, there was no supporting documentation for the procurement of certain vehicles, a situation characterized as a problem year for the GAC.

Mr. Ouko also noted that most of the burden in the system is now being addressed by the current Auditor General of Liberia, Yusador Gaye. He urged the National Legislature to fully supported Madam Gaye’s effort for the betterment of the GAC.

The Kenyan Auditor General maintained that for the GAC to properly do its job, the Legislature must ensure its independence by avoiding interference and capacitating the Auditor General to work with employees who are independent.


Copyright 2012 All Rights Reserved.