The Gambia Import and Export Promotion Agency has failed its reporting obligations to the National Assembly oversight body, Public Enterprise Committee.
By the Gambian law, the institution is supposed to submit its audited account and activity report to PEC for scrutiny yearly.
Submissions for a year is done in March of the following year. However, GIEPA has failed to honour their constitutional obligation and it is dealing with a two-year backlog.
The institution has not submitted both its 2017 and 2018 audit accounts and activity report for scrutiny.
On Tuesday, Hassan Jallow, the chief executive officer of GIEPA, blamed the auditors for the delay in the submissions of their report.
GIEPA’s books are being audited by PKF audit firm. Jallow said the auditors, in the middle of their exercise, increased their agreed price from D200, 000 to D300, 000. “This is unheard of,” he said. Jallow said because of their difference in the increase in price which they have not budgeted for, the work was stalled.
“So, they refused to include the management letter into the 2017 audit and would not start the 2018,” he said. Jallow appeared before the PEC with board chair of GIEPA, Yankuba Dibba.
However, the external auditors PKF’s Donald Kaye refuted the claims made by Jallow. Kaye said they have finished the 2017 audit. “The financial statement for 2017 is with the board and all they need to do is sign it,” said Kaye.
He said they increased the fee in the middle of the exercise because the management, due to the lack of urgency they have shown, have cost them time they could utilize on other activities. Thus, they also found it prudent that they incur further cost.
The extra cost that PKF proposed was 100, 000. After the intervention of the PEC, GIEPA agreed to pay D50, 000 for the completion of the work.
Meanwhile, GIEPA has agreed to submit its 2017 financial statement to the PEC before the end of the week. They have also promised to submit their 2018 audited accounts and activity report by December this year.
PEC is dealing with a backlog of activity reports and audited accounts from public institutions. Halifa Sallah, the chair of the Parliamentary body reiterated the need for public institutions to regularly report with the parliamentary body and within the deadline which is March 31 of the following year.