The 2021 Auditor General’s Report has disclosed that documents of five divested enterprises by the Divestiture Implementation Committee cannot be found or missing.
The audit team noted several irregularities with regard to the reported sale of five divested enterprises. These irregularities included the unavailability of documentation on the processes followed in conducting and concluding all these sales and the non-availability of certified liability reports.
“We recommended that the Committee intensify its efforts to find and file all missing documents and submit them for audit verification”, the report explained.
Again, the report found out that management was unable to provide the audit team with minutes of meetings requested to enable it carry out its review work.
“We urged management to redouble its efforts in obtaining copies of the minutes which were submitted to the Ghana Police Service and present them for audit verification”.
The review of divestiture debtors also disclosed that there were several issues including a list of debtor balances that did not agree with the nominal ledger balance and missing offer letters and sale and purchase agreements, rendering the completeness, accuracy, existence, and valuation of divestiture debtors in serious doubt.
“We recommended that the committee should among other things, take inventory of sale and purchase agreements for all state enterprises divested to establish a complete and accurate status of divestiture debtors and institute, an effective mechanism of debt recovery to recover all outstanding debts in a timely manner”, it added.
The report further pointed out that the Committee was unable to provide the audit team with a list of divestiture liabilities, noting that the Committee wrongfully recorded expenditures incurred and paid for other enterprises on the divestiture list but not yet divested, against the divestiture liabilities account. It therefore recommended that the Committee should obtain copies of certified liabilities reports of the enterprises divested from the consultants engaged.
Latest Stories
-
Shatta Movement apologises to Ghana Society of the Physically Disabled after backlash
17 seconds -
Sammy Gyamfi writes: Tema-Mpakadan Railway Project; A railway line to nowhere
31 mins -
Bright Simons: Is the World Bank saving or harming Ghana?
47 mins -
CAF Cup: RS Berkane banned from entering Algeria because of a map of Morocco with its Sahara
1 hour -
The media isn’t doing what is expected of journalism – Sulemana Braimah
1 hour -
Truck driver who caused train accident jailed 6 months
1 hour -
Music review: Okyeame Kwame proves rap dexterity on ‘No Competition’
2 hours -
How a 23-year-old fooled the internet with an AI Kendrick Lamar diss track
2 hours -
No man should be intimidated by the strength of a woman – Charlotte Oduro
2 hours -
Ghana is not immune to terrorist attack – National Security
2 hours -
WAFU B U-17 Championship: Ghana drawn in Group A, face Benin and Cote d’Ivoire
2 hours -
Two hit by stray bullet as Police clash with ‘wee smokers’
3 hours -
Peter Amewu blames truck driver recklessness for train accident
3 hours -
Okyeame Kwame aims for another Artiste of the Year win after 15 years
3 hours -
NAGRAT gives government one-week ultimatum to redeem unpaid pensions for 700,000 workers
3 hours