Sunday, December 4

NA refers Gov’t audited 2019 financial statements to FPAC for consideration

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By Binta Jaiteh

At the Tuesday sitting in the National assembly, members referred the Auditor General’s report on the audited financial statements of the Government for the year ended 31st December 2019 to the Public and Finance Accounts Committee (FPAC) for thorough consideration.

After the presentation of the report, Honourable Fa Bakary Tombong Jatta Speaker of the National Assembly reminded the members that it is an important report of the government and it requires thorough consideration by the assembly. He, therefore, tasked a member to move a motion to commit this report to the relevant committee of the assembly for consideration, Honourable Sulayman Saho NA member for Badibou Central moved the motion and it was seconded to refer it to the FPAC committee.

Honourable Baboucarr O. Joof Minister of Public Service representing the Minister of Finance said the financial statements consist of accounts that are under the control of the accountant general’s department and do not include the full transaction of the state-owned enterprises’ self-accounting projects and local government.

He noted that the entities are audited separately by external auditors through the office of the Auditor General.

He went on that it consists of consolidated statements of cash received and payments, that is internal public sector accounting standards, statements of revenue and expenditure that is the consolidated fund detail revenue and expenditure accounting policies, and explanatory notes.

According to him, the financial statements have been prepared per the following legal regulatory frameworks 1997 constitution public finance act. He added that government finances have been audited up to 2019 the audit for 2020 is currently ongoing. The 2021 financial statements have been prepared and submitted to the audit office.

‘’Modernization of government public financial management tool the integrated financial management information system, government continue to widen the scope of implementation and has connected all embassies abroad, the implementation of the dread single accounts through which all government bank accounts will be consolidated at the Central Bank of the Gambia, is also in progress,’’ he stated.

However, he said, the TSA will enhance the government’s cash position thereby reducing domestic borrowing a key tool to support the dread singular accounts, is the implementation of the revenue collection gateway, and this is at an advanced stage.

He added that over the past years Government has been implementing a series of public financial management reforms which has resulted in the over-rolling improvement in the quality of PFM service delivery by the government.