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NDIA fails to document to determine asset ownership – Audit Office
(Kaieteur News) – In a report on the performance of the National Drainage and Irrigation Authority (NDIA) auditors flagged the non-presentation of documentation to ascertain the ownership of the assets in its possession.
“The audit sought to verify the ownership of over 500 assets recorded in the Authority’s Asset Register. However, despite several requests for the relevant documentation to prove ownership, only twenty-one of the total requested were presented for audit,” the report said.
As a result, auditors were unable to determine the number of assets owned by the NDIA and whether maintenance expenditure was in the interest of the authority.
In this light the Audit Office, has recommended that the management of the NDIA “take the required steps to ensure pertinent records for the assets under their control are available and presented for audit verification.”
The NDIA, in response to the findings, said that the necessary corrective steps will be taken to ensure that its records are kept and compliance with the Store Regulation of 1993 is maintained.
The audit office said that the goal of the assets register is to ensure that an organisation’s records contain complete information about all its assets so that there can be easy tracking where necessary. This ultimately allows for the proper management and accountability.
It was disclosed that the NDIA did maintain assets register for the audited period. However, the entity failed to properly write-up the register as pertinent information was omitted. The omitted information includes: the location of the asset, asset serial number, asset identification number and, assets’ transfers between Regions/locations,” the report added.
Furthermore, the accuracy and completeness of the assets register could not be determined. The failure of the Authority to properly account for its assets could result in losses, theft, and misuse, the audit office stated.
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