Annual general report of the controller and - Parliament of Tanzania

Sales as per
accounting
department
(VAT inclusive)
Revenues as per
Marketing
department
records (VAT
inclusive)
Difference
(Shs) (Shs) (Shs)
6,302,213,023 4,084889,404 2,217,323,619
Our review of the minutes of the Board of Directors
revealed that monthly BCOs and revenue reports are not
prepared, submitted or discussed by the Board of Directors.
Furthermore, we noted that the Program section does not
produce and maintain reports for all programs and
commercial advertisements made. Lack of the above
information makes it difficult to ascertain the
completeness of the revenue by the corporation for the
financial year ended 30 June 2008. The accuracy and
completeness of the corporation’s reported revenues is
uncertain.
Credit Notes passed without approval
During the year under audit we noted that TBC raised
credit notes of Shs.60,270,800 which were processed in the
General ledger without proper approval from authorised
personnel of the Corporation. According to the
Corporation’s Accounting Manual Section 5.2.5.2, all credit
notes should be approved by the Director of Finance and
Supplies or Finance Manager. Credit notes issued
fraudulently may lead to revenue losses and non
compliance to TBC’s Accounting Procedural Manual.
4.3.2 Lack of Security over cash collections at Institute of
Social Works
According to regulation 57 (1) of the Public Finance
Regulations 2001 (revised 2004) the Accounting Officer
shall be personally responsible for ensuring that adequate
safeguards are in place and are applied for prompt
collection of and proper accounting for all revenue and
other public moneys relating to their departments. To
___________________________________________________________
Office of the Controller and Auditor General PA&oBs 2007/08 88