Annual general report of the controller and - Parliament of Tanzania

prepared (NBC A/C No. 022103000156
and CRDB A/C No. 01J1043011104).
(iii) From our review of cash in transit
(CIT) reconciliation statements, we
noted double postings were was not
reconciled worth Shs 71,096,331
5 TCAA Bank reconciliations, especially revenue
bank accounts were not reviewed by
independent personnel as they had no
reviewers sign off to evidence such
reviews (if any).
Some reconciliation statements were not
properly prepared and no investigations
were performed by management to
establish the causes of the anomalies.
Bank balance used on those
reconciliation statements did not agree
with the balance as per bank
statements.
In the absence of reconciliation, errors and or irregularities
on the bank reconciliation statements may not be timely
uncovered and promptly corrected. The above cases are
just indicators but this situation is common to many Public
Authorities and other Bodies which needs purposeful efforts
to address. Moreover its has been proved that major theft
of Public Authorities money using the bank system has take
place in those Public Authorities which never do bank
reconciliation or those in arrears of such statements.
5.4 Inefficient control over cash receipts at NSSF
Audit review on the contributions receipt noted that
employers monthly contributions to the Fund are done
either through bank or Cash. These monthly contributions
are usually supported with NSSF 15 form which includes
relevant employer’s particulars and that of individual
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Office of the Controller and Auditor General PA&oBs 2007/08 99