Annual general report of the controller and - Parliament of Tanzania

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An auditor’s opinion is considered an essential tool when reporting financial information to users. It is intended to advise Parliament and other users on whether Public Authorities financial statements have been prepared in accordance with the standards issues by the National Board of Accountants and Auditors being the regulator of the accounting and auditing profession in Tanzania as well as International Financial Reporting Standards issued by the International Accounting Standard Board (IASB) and the International Public Sector Accounting Standards (IPSAS) issued by the International Federation of Accountants (IFAC) 2.1 Types of audit opinion There are five common types of audit opinions, each one presenting a different situation encountered during the auditor’s work. The five opinions are as follows: 2.1.1 Unqualified Opinion report Unqualified Opinion is sometimes regarded by many as equivalent to “Clean opinion”. This type of opinion is issued when the financial statements presented are free of material misstatements and were prepared in accordance with the standards issued by the National Board of Accountants and Auditors (NBAA) or International Financial Reporting Standards issued by the International Accounting Standard Board (IASB), or International Public Sector Accounting Standards (IPSAS) issued by the International Federation of Accountants (IFAC) which in other words means that the Public Authorities financial performance, financial position, change in owners equities and cash flows are fairly presented in the financial statements. It is the best type of opinion an auditee may receive from an external auditor. 2.1.2 Unqualified opinion with Emphasis of Matter In certain circumstances, the unqualified audit opinion may be modified by adding an emphasis of matter paragraph to highlight matters affecting the financial statements. The ___________________________________________________________ Office of the Controller and Auditor General PA&oBs 2007/08 10
addition of such an emphasis of matter paragraph does not affect the audit opinion. The paragraph is normally included after the opinion paragraph and ordinarily refers to the fact that the opinion is not qualified in this respect. An emphasis of matter paragraph is appended in each situation, which draws the immediate attention of the Chief Executive Officer and users of financial statements warning them about those matters requiring their urgent attention, failure of which may result in issuance of a qualified opinion in subsequent audits. However, the main objective of the emphasis of matter paragraph is to bring closer understanding of the situation obtained in the audited entity, despite the unqualified opinion given. 2.1.3 Qualified Opinion This type of opinion is issued when the Controller and Auditor General disagreed with management or there exists uncertainty which has a material but not fundamental effects on the accuracy of the financial statements. The wording of the qualified opinion is very similar to unqualified opinion, but an explanatory paragraph is added to explain the reasons for the qualification. It will therefore show that financial statements present fairly the state of affairs except for the effects of a specific audit observation. The explanatory paragraph comes before the opinion paragraph. 2.1.4 Adverse Opinion An Adverse Opinion is issued when the Controller and Auditor General determines that the financial statements of Public Authority are materially misstated and, when considered as a whole, do not conform to the standards issued by the National Board of Accountants and Auditors (NBAA) or International Financial Reporting Standards issued by International Accounting Standard Board (IASB). This opinion is considered the opposite of an unqualified opinion, essentially stating that the information contained ___________________________________________________________ Office of the Controller and Auditor General PA&oBs 2007/08 11
Page 1 and 2: ANNUAL GENERAL REPORT OF THE CONTRO
Page 3 and 4: Office of the Controller and Audito
Page 5 and 6: CHAPTER NINE ......................
Page 7 and 8: GTEA General Tyre East Africa HRM H
Page 9 and 10: TR Treasury Registrar TRA Tanzania
Page 11 and 12: Lastly, I would like to thank staff
Page 13 and 14: for the maintenance of a compliant
Page 15 and 16: PA & oBs Unqualified opinion Unqual
Page 17 and 18: and effective delivery of community
Page 19 and 20: year 2007/2008 the Office of the Co
Page 21 and 22: CHAPTER ONE BACKGROUND AND GENERAL
Page 23 and 24: • Preventing or minimizing the un
Page 25 and 26: 1.3 Responsibilities of the Board o
Page 27 and 28: singly or jointly did the audit of
Page 29: CHAPTER TWO BASIS AND TREND OF AUDI
Page 33 and 34: General to access all records, book
Page 35 and 36: It is important to note that an unq
Page 37 and 38: From the above analysis, it is evid
Page 39 and 40: 49. National Institute for Producti
Page 41 and 42: -- The computer hardware and softwa
Page 43 and 44: epayable after six months. The agre
Page 45 and 46: 4. Tabora Urban Water Supply and Se
Page 47 and 48: was carried out by ‘The Solomon C
Page 49 and 50: 2. PresidentialParastatal Sector Re
Page 51 and 52: een reconciled by DUWASA and theref
Page 53 and 54: 4 Tanzania Standard Newspaper (TSN)
Page 55 and 56: summary total of invoices issued to
Page 57 and 58: 6. Tanzania Communi cation Regulato
Page 59 and 60: monthly reports as required by sect
Page 61 and 62: independently as required by sectio
Page 63 and 64: TANAPA obtained from the Exim Bank
Page 65 and 66: 8. Tanzania Post Corporation 9. Ins
Page 67 and 68: Procurement Notice as required by R
Page 69 and 70: 11 Muhimbili University of Health a
Page 71 and 72: Water Supply and Sewarage Authority
Page 73 and 74: elating to prior years interest cha
Page 75 and 76: CHAPTER THREE SUMMARY OF THE PREVIO
Page 77 and 78: 2. 10.2 Weak Information Technology
Page 79 and 80: eporting directly to the Chief Exec
Page 81 and 82:
Concern Problems Some public corpor
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customers resulting into over or un
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overstatement of the assets; nonrev
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y the liabilities imposed by variou
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Tanzania International Container Te
Page 91 and 92:
while the Board of External Trade f
Page 93 and 94:
3.2.2 National Insurance Corporatio
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Kagera Sugar Company Ltd General Ty
Page 97 and 98:
Emunio Tanzania Limited Kiwira Coal
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guaranteed 75% by the government an
Page 101 and 102:
4.0 Introduction CHAPTER FOUR EXPEN
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4.1.3 Questionable payments (i) Nat
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The above certificate was in favour
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(iii) Tanzania Engineering and Mech
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ensure that this regulation is full
Page 111 and 112:
Customer Meter No. Date connected F
Page 113 and 114:
Date Number of visitors per TANAPA
Page 115 and 116:
Loss of Potential Revenues from Pri
Page 117 and 118:
CHAPTER FIVE INTERNAL CONTROL SYSTE
Page 119 and 120:
prepared (NBC A/C No. 022103000156
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5.6 Lack of segregation of duties.
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monthly basis to do a reconciliatio
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CHAPTER SIX PERFORMANCE REVIEW 6.0
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From the table above, the operation
Page 129 and 130:
- IPTL and Songas accounted for abo
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Key performance targets not achieve
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failing to effectively and efficien
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SN Donor Year of deposit Amount 1.
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anger post 10 TANESCO Electricity c
Page 139 and 140:
aired without raising Broadcasting
Page 141 and 142:
6.13.2 National Development Corpora
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CHAPTER SEVEN COMPLIANCE WITH PROCU
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of appropriate procurement methods
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evaluation committee to the tender
Page 149 and 150:
A review of the tendering procedure
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Dodoma (2 sites ) 10 Singida (2 sit
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TANAPA. Furthermore, there was no e
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VAT). How the Joint venture came ab
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CHAPTER EIGHT CONTRACT MANAGEMENT 8
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3. Unjustified Single source 4. Lac
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Property Market Consult -TZS. 107,9
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Item Old rate (Shs) New rate (Shs)
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Furthermore, throughout the period
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sub-contractor or agents; and the c
Page 169 and 170:
• A further invoice No. 402706 fr
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in the cost of the measured works a
Page 173 and 174:
The original contract price with Gr
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of the project and not responding t
Page 177 and 178:
(a) Tender Evaluation Documents We
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(i) Selling price for the entire pr
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alance (i.e. 90% of selling price)
Page 183 and 184:
payment of the purchase price, whic
Page 185 and 186:
a building. However, the following
Page 187 and 188:
9.0 Introduction CHAPTER NINE ASSET
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No periodic physical verification e
Page 191 and 192:
Lack of motor vehicles registration
Page 193 and 194:
Registrar through his letter with r
Page 195 and 196:
gone in dispute which has not been
Page 197 and 198:
of the Authority by the then Presid
Page 199 and 200:
undertake various activities and th
Page 201 and 202:
9.9 Un-recovered Loans and Advances
Page 203 and 204:
committed by TPB Staff during the p
Page 205 and 206:
have invested the amount in other v
Page 207 and 208:
3.7 Millions (2006) loan 9. Kiwira
Page 209 and 210:
een executed and availed as support
Page 211 and 212:
Tanzania Posts Corporation is an ag
Page 213 and 214:
10.0 Introduction CHAPTER TEN HUMAN
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employees. The appraising system he
Page 217 and 218:
without employment contract contrar
Page 219 and 220:
to a lower rank, status and pay whi
Page 221 and 222:
10.8 Accumulation of annual leave b
Page 223 and 224:
11.0 Introduction CHAPTER ELEVEN CO
Page 225 and 226:
Dar es Salaam City Council since th
Page 227 and 228:
allowances varies from one organiza
Page 229 and 230:
11.3 Parliamentarians serving as Di
Page 231 and 232:
make final decisions to an autonomo
Page 233 and 234:
CHAPTER TWELVE RESULTS OF PRIVATIZA
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12.1.1 Public Authorities and other
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Shs.85,905,745,060 being paid up sh
Page 239 and 240:
total potential of paid up share ca
Page 241 and 242:
alances as at 31 st December, 2007
Page 243 and 244:
CHAPTER THIRTEEN RESULTS OF SPECIAL
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from the existing training arrangem
Page 247 and 248:
evidenced by fuel adulteration whic
Page 249 and 250:
esult of stock taking exercise as a
Page 251 and 252:
CHAPTER FOURTEEN CONCLUSIONS AND RE
Page 253 and 254:
Recommendation • The Board of Dir
Page 255 and 256:
• No monthly bank reconciliations
Page 257 and 258:
advertisement should be aired witho
Page 259 and 260:
Office building at BoT and take app
Page 261 and 262:
• The Government should enter int
Page 263 and 264:
e based upon the interests of consu
Page 265 and 266:
• There is an ambiguity in the ro
Page 267 and 268:
in terms of likelihood of occurrenc
Page 269 and 270:
14. for Universities Tanzania Commu
Page 271 and 272:
28. Government Employees Provident
Page 273 and 274:
9. Mzumbe University 10. University
Page 275 and 276:
Annexure 2 Audits Public Authoritie
Page 277 and 278:
Wildlife Research Institute (TAWIRI
Page 279 and 280:
3. Kigoma/Ujiji Urban water Suppy a
Page 281 and 282:
Higher learning institutions and Co
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Annual general report of the controller and - Parliament of Tanzania

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