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Monday, April 22, 2024
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ZACC Financial Accounts Shambolic: Auditor General

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The Zimbabwe Anti-Corruption Commission is accused of failing to account for over $734,000 used in its day to day operations with the office of the comptroller and auditor general saying the independent body’s 2011 books of accounts were in a shambles.

By Jeoffrey Ncube

According to the Auditor General, Mildred Chiri, ZACC management failed to reconcile the variances between amounts in the ledgers, the trial balance and the financial statements.

“Management could not reconcile the variances between amounts in the ledgers, the trial balance and the financial statements.The statement of financial position had an imbalance/suspense of $693 611 and the cash flow statement was out of balance by $40 908,” she said.

Chiri accused ZACC management of failing to avail a fuel register of how the fuel amounting to $112,663 had been consumed for inspection.

Emirates

“Management failed to avail a fuel register or any other documentation of how the fuel had been consumed for my inspection, as a result l was unable to verify the validity and accuracy of the expenditure,” said Chiri.

The Auditor General added that the commission could not avail a cash count certificate to support the amount disclosed in the financial statement.

“I could not satisfy myself of the accuracy and completeness of the disclosed cash on hand balance as the Commission did not maintain a petty cash book to account for the transactions that had occurred during the year.

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“The Commission could not avail a cash count certificate to support the amount disclosed in the financial statement, as a result the statement of cash flows had an imbalance of $ 40 908.

“l was unable to verify through alternative means, the accuracy and validity of the disclosed cash on hand balance and l was also unable to determine the extent of the adjustments necessary to correct this account area,” said Chiri.

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