Ministries, Departments and Agencies (MDAs) inability to produce financial statements for the Auditor-General to audit and give his opinion on is an expectation-gap that has not been filled since 2003 - when the Financial Administration Act (Act 654) was passed. Section 40 of Act 654 considers MDAs as individual entities that are required to prepare annual accounts, consolidated for each ministry on receipts and disbursements of funds through all districts and regional offices in the country. Consequently, the Auditor-General is unable to inform parliament - a core mandated function - as to the completeness of financial information, the principles and basis of accounting adopted, the truth...
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