{"id":17314,"date":"2022-04-05T14:46:37","date_gmt":"2022-04-05T14:46:37","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/audit-raises-doubts-about-central-banks-recent-annual-accounts"},"modified":"2022-04-05T15:01:22","modified_gmt":"2022-04-05T15:01:22","slug":"audit-raises-doubts-about-central-banks-recent-annual-accounts","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/audit-raises-doubts-about-central-banks-recent-annual-accounts","title":{"rendered":"Audit raises doubts about central bank\u2019s recent annual accounts"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>An audit has expressed reservations about the 2020 financial statements of the Bank of Mozambique (BM), the country\u2019s central bank, as had already happened in relation to those for 2019, reads the annual report published by the financial institution on Thursday and consulted by Lusa on Tuesday.<\/p>\n

The BM published the 2019 report and accounts in January and has now made the 2020 accounts public, with three reservations entered in the audit report.<\/p>\n

\u201cDue to the fact that the predecessor auditors have issued an adverse opinion on the financial statements for 2017 and 2018 (\u2026) we are unable to ensure the completeness, existence and accuracy of the opening balances, nor their impact on the closing balances,\u201d the opinion from independent auditor BDO, signed on Thursday, reads.<\/p>\n

At issue is the fact that in 2017 and 2018 the BM did not consider it \u201crelevant\u201d to consolidate the accounts of the subsidiary Kuhanha \u2013 Pension Fund Management Company of the employees of the central bank, which acquired a majority stake in Moza Banco, one of Mozambique\u2019s main commercial banks.<\/p>\n

In a second point, the auditor said that since 2005 the Mozambican state had never delivered to the World Bank, public debt securities provided for by law amounting to 9.2 billion meticais (132 million euros) \u2013 nor did the central bank recognise the accumulated revenues of 12.9 billion meticais (185 million euros) associated to this \u201cstate debt\u201d to the market regulator.<\/p>\n

In another note, it also noted that the BM had not recorded 10.7 billion meticais (152 million euros) in liabilities, in line with accounting standards, \u201cthus affecting liabilities and equity by the same amount.<\/p>\n

According to the report and accounts, the central bank closed the 2020 consolidated financial year with a loss of 1.3 billion meticais (18 million euros), an improvement on the previous year\u2019s loss of 4.6 billion meticais (65 million euros).<\/p>\n

The report and accounts have been available since Thursday on the official website of the bank of Mozambique.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. An audit has expressed reservations about the 2020 financial statements of the Bank of Mozambique (BM), the country\u2019s central bank, as had already happened in relation to those for 2019, reads the annual report published by the financial institution on Thursday and consulted by Lusa on Tuesday. The BM published the 2019 […]<\/p>\n","protected":false},"author":84,"featured_media":17313,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-17314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nAudit raises doubts about central bank\u2019s recent annual accounts - Mozambique<\/title>\n<meta name=\"description\" content=\"An audit has expressed reservations about the 2020 financial statements of the Bank of Mozambique (BM), the country\u2019s ce ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/audit-raises-doubts-about-central-banks-recent-annual-accounts\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Audit raises doubts about central bank\u2019s recent annual accounts\" \/>\n<meta property=\"og:description\" content=\"An audit has expressed reservations about the 2020 financial statements of the Bank of Mozambique (BM), the country\u2019s ce ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/audit-raises-doubts-about-central-banks-recent-annual-accounts\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-05T14:46:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-05T15:01:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/04\/img-624c599edd8aa.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"825\" \/>\n\t<meta property=\"og:image:height\" content=\"510\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/audit-raises-doubts-about-central-banks-recent-annual-accounts#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/audit-raises-doubts-about-central-banks-recent-annual-accounts\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Audit raises doubts about central bank\u2019s recent annual accounts\",\"datePublished\":\"2022-04-05T14:46:37+00:00\",\"dateModified\":\"2022-04-05T15:01:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/audit-raises-doubts-about-central-banks-recent-annual-accounts\"},\"wordCount\":331,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/audit-raises-doubts-about-central-banks-recent-annual-accounts#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/04\/img-624c599edd8aa.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/audit-raises-doubts-about-central-banks-recent-annual-accounts#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/audit-raises-doubts-about-central-banks-recent-annual-accounts\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/audit-raises-doubts-about-central-banks-recent-annual-accounts\",\"name\":\"Audit raises doubts about central bank\u2019s recent annual accounts - 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