65 Agencies Failed To Submit Accounts For Audit – AuGF - OLUJAMESON.COM| Latest News and Home of Creativity

65 Agencies Failed To Submit Accounts For Audit – AuGF

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The Auditor-General for the Federation, Mr Anthony Ayine, has said that a total of 65 agencies of government never submitted their financial statements for audit purposes in line with the provisions of Financial Regulations 321.

This is contained in the 2016 annual report of the Auditor-General for the Federation.

The 2016 audit report is the latest to be prepared by the OAGF for all MDAs.
The report was submitted to the National Assembly in June through a letter to the Clerk of the National Assembly with reference C/AR.2016/CONF/VOL.1/01.

The audit report stated that despite the provisions of Financial Regulation 321(v), which enjoined the chief executive officers of statutory corporations to submit both the audited accounts and management report to the Auditor-General for the Federation not later than May 31of the following year of account, many of them never obeyed that provision.

For instance, the report stated 323 agencies defaulted in 2016, while 2015 and 2014 had 215 and 148 defaulters.
The AuGF report noted that as of April 2018, 109 agencies had not submitted their financial statements beyond 2013, while 76 agencies last submitted for the 2010 financial year.

It stated, “Most of the government corporations, companies and commissions have not submitted their audited accounts for 2016 to me. Only 51 audited financial statements for 2016 and 149 for 2015 had been submitted to my office as of December 27, 2017.

“As of April 2018, 109 agencies had not submitted beyond 2013; 76 agencies last submitted for the 2010 financial year, while 65 agencies have never submitted any account since inception.”

It added, “The extensive violation of statutory financial reporting obligations by parastatals is of great concern.

“Stringent sanctions, including withholding financial releases and sanctions of the chief executives should be imposed on defaulting agencies, who did not render timely accounts as provided in the constitution and financial regulations.”

On the adoption of the International Public Sector Accounting Standards by the MDAs, the AuGF said that based on the audit conducted by his office, there were a lot of material errors and misstatements in the financial statements prepared and submitted by the AuGF.

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