NATCOM AT LAST SUBMITS FINANCIAL STATEMENT

Days after 29 public institutions faced naming and shaming for failing to submit financial statements for year ending 2016, Audit Service yesterday confirmed it has received NATCOM’s financial statement.

An official of Audit Service told the New Age that amongst institutions publicly chastised, only NATCOM has promptly and reverentially acted in response, hence their submission of 2016 financial statement for audit theory test, assessment and public check.

Unlike number of institutions nationwide, NATCOM is one of few that does not receive subvention from government for its daily operations.

But Abdul Kuyateh, Director of Consumer and Corporate Affairs at NATCOM said, “His institution (NATCOM) has always been compliant to callings over the years, and claimed there was scientific problems as caused by software crash (Great Plains), that which he said ‘led to the late submission of the 2016 financial statement by NATCOM.’

“In fact,” Kuyateh emphasized, “NATCOM was even strained to go through a new procurement procedure, to enable the Commission acquire a new software called QUICKBOOKS in the enhancement of management standards and objectives.”

“The leadership of NATCOM even went further to negotiate terms with the Audit Service shortly after the break down of the software in a way bringing to their notice how such a break down is likely to cause problem in the operations of NATCOM as a commission.”

Under the public financial management act 2016, the vote controller of every entity is required to submit financial statement to the Auditor General within three months after the accounts of a financial year are closed.

This, according to Ibrahim Tommy, Executive Director of CARL, has seen institutions named violating the laws of the country, stating, however, that the period for public institutions to submit the required financial statements expired more than four months ago, and that their failure to comply does nothing to enhance their reputation.
Whatever the reasons may be for their failure, it is simply unacceptable and should not go unpunished.

Tommy claimed, “Citizens have a right to know how their tax monies are utilized and public servants who are paid to manage the country’s resources have a responsibility to give a full account of their stewardship to the citizens.”

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