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Unused IFMAS modules will make for easier, efficient audits – AG Sharma
By Gary Eleazar
Should the two unused modules of the Integrated Financial Management and Accounting System (IFMAS) be operationalised, it will certainly make for an easier and more efficient audit of government books.
Auditor General, Deodat Sharma
This is according to Auditor General, Deodat Sharma, who in a brief interview with this publication yesterday said that the use of the two modules would mean centralizing the records as against them being scattered across the various Government Ministries.
Sharma explained to this publication that at present the Audit Office inspects the manually prepared fixed asset registers which are kept by each of the Ministries.
Sharma said, too, that the purchases made by each Ministry are kept in their individual purchasing registers.
When it comes to auditing, the officials from the Audit Office would have to go to the various locations to conduct their assessment.
According to Sharma, with the modules being operationalised, all of the information would be in one centralized location.
He said that the system was designed to give Government more control over its financial information across the ministries.
The IFMAS system was prepared with seven components, namely the Appropriation, Expenditure, General Ledger, Budget Preparation & Reporting System (BPRS), Purchasing, Revenue and Asset & Inventory Modules.
The Purchasing and Asset and Inventory Modules are the ones that have not been implemented.
The unimplemented Purchasing Module seeks to provide the ability to create purchase requisitions and orders with self-creating commitments to reserve the necessary funds; provide the ability to record the receipts and return of goods and automatically update the purchase order to reflect the transactions; complete integration with the payment process to reflect payment for goods ordered and received; and provide the ability to create an asset record when goods are received.
The unimplemented Inventory/Assets Module seeks to provide the ability to create inventory and asset entries when entering a new record based on the requisitions; provide the ability to have automatic stock ordering when the system hits a user-defined reorder point; provide the ability for tracking issues and receipts; provide the ability to enter receipts for deliveries to stores via the Purchasing Module; provide the ability to make adjustments to reflect inventory average and shortages; and provide the ability to provide queries and reports on current inventory, stock activity and receiving reports.
It was former Auditor General Anand Goolsarran who brought to the limelight some of the potential consequences of not having the modules operationalised.
Over the weekend, the contentious issue was raised with none other than Head of State, President Donald Ramotar, who committed to having his Finance Minister, Dr. Ashni Singh meet with the press to provide answers to the numerous questions.
To date, Dr. Singh is yet to host a press engagement to clear the air on the outstanding questions.
IFMAS was implemented on January 1, 2004 under former President Bharrat Jagdeo. Its intention was to modernize the business of the government. It is responsible for recording all financial data generated by the government. These include the issuing of cheques, recording of warrants and contingencies fund advances, and the generation of the annual financial statements.
The accounting system was specially designed to suit Guyana’s financial landscape.
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