In continuation of its Statutory role to ensure financial discipline, Fairplay, Transparency and Accountability in public space, The General Auditing Commission following a comprehensive audit has revealed that the incident management team transfered 500K to the Government’s Consolidated account for fiscal year 2024.
The progressive output by the IMS, the report stressed worth emulating by stakeholders in future outbreak responses.
According to the report, The General Auditing Commission conducted five separate audits of the Incident Management system namely; four financial statement audits and one performance audit.
These unprecedented number of audits, the report pointed out ended with a documented improvement in the financial management of public funds by the IMS.
The GAC rendered four opinions to the four financial statements audits conducted.
Those opinions are 2020/2021 —–Qualified Opinion, special Fiscal Year 2021 ——- Qualified Opinion, FY 2022 —— Unqualified Opinion and FY 2023 —— Unqualified Opinion.
In audit, a qualified opinion is issued when the auditor has identified misstatements in the financial statements, but these misstatements are not pervasive.
In simpler words, despite the identified issues, the financial statements are still reliable. This definition is reflective of the IMS records in fiscal year 2020/2021 and Special Fiscal Year 2021.
However, an unqualified opinion as rendered the IMS Fiscal years 2022 and 2023 indicates that the financial statements present fairly in all materials respects the financial positions and results of the IMS.
Meanwhile, The audit report expressed that the general standards were followed in all respects on during the engagement.
