By ‘Majirata Latela
The consolidated financial statements report of the auditor general for the year ended March 2021 reveals there is an unaccounted for shortfall of M6.157 billion in the government’s 383 various bank accounts both locally and internationally.
Acting auditor general Monica Besetsa’s report released on Wednesday shows that on March 31 2020 there were 374 accounts amounting to M5.311 billion and therefore there was an increase of nine accounts to the tune of M152 million.
“On the contrary, the consolidated statement of cash receipts and payment reflect unsubstantiated cash increase of M2.865 billion.
“Even though there was an improvement on the maintenance of register for bank accounts, still, I could not put reliance on it, as the number of accounts per bank confirmations was 383 whereas the register reflected 366.
“There were instances where some bank accounts were reflected in the register but not in the bank confirmations and vice versa. In addition, one bank has provided inconsistent information in terms of confirmation of balances and closed accounts. Therefore, I could not confirm the number of bank accounts and the balances thereon as at March 2021,” Besetsa reports.
The report says the financial statements “do not consolidate all government controlled entities. State owned enterprises, autonomous institutions and other extra budgetary funds are not fully consolidated.”
Added acting auditor general: “Centrally managed bank account balances were not fully reconciled as at 31 March 2021. The financial statements disclose a small number of accrual items, which had not been cleared at the reporting date such as accounts payable, advances, provisions, third party trusts and deposits.”
In November 2021, the publication wrote an article showing that audit for the year ending March 31 2020 revealed that M3.5 billion in government funds was missing from its bank accounts and the accountant general does not know how much money the government of Lesotho has in various banks both locally and internationally.
Besetsa said the financial statements showed that the government had 372 accounts totalling M5.311 billion while the consolidated statement of cash receipts and payments reflect that government had cash of M8.724 billion. These resulted into an unexplained difference of M3.474 billion.
FULL AUDIT REPORT HERE
