Monrovia – The General Auditing Commission (GAC) has completed and submitted to the National Legislature audit of the Audit of the Government of Liberia (GoL) Consolidated Fund Financial Statements for the fiscal Period 2014/2015. During the audit, the GAC observed among others, the following major abnormalities in the financial statements which served as a basis of a disclaimer. A disclaimer of opinion is issued by an auditor for example when the scope limitation is imposed by the auditee by not providing documents to support the financial statements. The GAC observed that money from the sales of public asset totaling US$347,275.19 was deposited into the General Services Agency Fleet Management Account at the CBL instead of the GoL Consolidated Fund Account. The GAC observed during the audit that foreign travel advances totaling US$248,314.00 was paid to the Judiciary Branch for trips abroad which were not retired.

Source: Front Page Africa March 01, 2017 02:32 UTC