{"id":53986,"date":"2023-09-19T17:38:22","date_gmt":"2023-09-19T17:38:22","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/oranjemund-gets-adverse-audit-opinion"},"modified":"2023-09-19T18:05:19","modified_gmt":"2023-09-19T18:05:19","slug":"oranjemund-gets-adverse-audit-opinion","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/oranjemund-gets-adverse-audit-opinion","title":{"rendered":"Oranjemund gets adverse audit opinion"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>There is no accountability at the Oranjemund Town Council. This is after auditor general (AG) Junias Kandjeke gave the southern local authority an adverse audit opinion, the worst opinion there is. Kandjeke\u2019s opinion covers the 2020\/21 financial year (FY).<\/p>\n

In accounting, an adverse opinion is given when an entity\u2019s financial statements are misrepresented, misstated and do not accurately reflect its financial performance and health. \u201cThe financial statements do not present fairly, in all material aspects, the financial position of the Oranjemund Town Council and its financial performance and cash flows,\u201d Kandjeke says in an audit report that was tabled in the National Assembly for scrutiny last week. He continued that the financial statements audited comprise Oranjemund\u2019s financial positions, comprehensive income, changes in equity, cash flows and notes to the annual financial statements.<\/p>\n

Chief among his findings was that his auditors were unable to verify account receivables of N$14.21 million in 2020 and N$18.45 million in 2021. \u201cThis was due to council failing to provide the customer detailed ledger for audit purposes and does furthermore not agree to financial statements,\u2019\u2019 said Kandjeke. The AG cont inued: \u201cIt is recommended that council provides customers detailed ledgers for audit purposes\u201d.<\/p>\n

On the property front, plant and equipment, a difference of N$10.36 million was observed between the financial statement opening balance of N$59 million in 2020 and the reconciliation of property, plant and equipment closing balance of N$48 million in 2019. \u201cIt is recommended that council ensures property, plant and equipment reconciliation are reconciling to financial statements,\u201d Kandjeke further recommended. More so, inventories amounting to N$2.1 million in 2020 could also not be confirmed, as the inventory report was not provided for audit purposes, neither were external auditors invited by council to do stocktaking, the AGnoted. In terms of audits of key performance indicators, it was found that the local authority had approved annual strategic<\/p>\n

plans in place, but it could, however, not be established if these plans have been reviewed accordingly, making it difficult if the pre-determined targets were met<\/p>\n

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

Africa-Press – Namibia. There is no accountability at the Oranjemund Town Council. This is after auditor general (AG) Junias Kandjeke gave the southern local authority an adverse audit opinion, the worst opinion there is. Kandjeke\u2019s opinion covers the 2020\/21 financial year (FY). In accounting, an adverse opinion is given when an entity\u2019s financial statements are […]<\/p>\n","protected":false},"author":84,"featured_media":53985,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-53986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nOranjemund gets adverse audit opinion - Namibia<\/title>\n<meta name=\"description\" content=\"There is no accountability at the Oranjemund Town Council. 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