PAC recovers billions of Leones from Audit Scrutiny

0
99

By Jariatu S. Bangura

The Chairman of the Public Accounts Committee (PAC), Hon. Ibrahim Tawa Conteh, has announced that the 2022 Auditor General’s report scrutiny has led to the recovery of billions of Leones within just two days.

Due to the audit team’s assertive collection efforts, approximately 10 billion new Leones were recovered, a significant increase compared to previous years.

Hon. Conteh noted the successful recovery of 3 billion Leones in transit between Rokel Commercial Bank and Sierra Leone Commercial Bank for a particular supplier. Additionally, substantial tax revenues were collected into the National Revenue Authority (NRA) accounts.

Highlighting the importance of the audit report, Hon. Conteh stated that it goes beyond a mere opinion, having met the Appeals Court’s threshold. Approximately 70% of the evidence from the Commission of Inquiry (COI) was derived from the audit report, underscoring its credibility and impact on subsequent appeals.

The PAC, emphasizing the enforcement of financial laws, has ensured that funds from legal breaches are paid into the consolidated fund without bias. Notices have been sent to all government debtors, regardless of their size, to ensure prompt payments.

Hon. Conteh also addressed the retrieval of wrongly claimed or awarded taxes, affirming that the Committee is making steady progress in this area. The NRA has been prompted to submit overdue issues to auditors, and those unable to pay will be called upon to settle their dues, with press releases to follow.

Hon. Aaron Koroma added that the audit report has highlighted outdated practices that need reform. Documents that should have been provided to auditors during the audit process were only submitted due to the Committee’s aggressive stance. He stressed that, moving forward, the extended period for responses and supporting documentation submission will be strictly enforced, with the timeframe now extended from 30 to 45 days.

By next year, the Committee aims to eliminate leniency in accommodating such practices, ensuring stricter compliance with auditing standards.

LEAVE A REPLY

Please enter your comment!
Please enter your name here