KEY ISSUES IN THE 2018 FEDERAL AUDIT REPORT

Abstract

The key issues are failures in revenue generation and remittance including failure in remittance of revenues due from MDAs, non-remittance of IGR, non-deduction or under deduction of due taxes and violation of the directive to transfer funds from money deposit banks to the Treasury Single Account. The second is irregularities on contract award, execution and payment. This includes award of contract without due process, irregularities in payment, over inflation and over invoicing of contracts, payment for services not rendered and supplies not delivered, unauthorised contract variation, contract splitting and violation of approval threshold. The third is irregularities in payments and expenditure. These include outstanding/missing payment vouchers, payments without supporting documents, violation of e-payment policy, unauthorised foreign trips, extra budgetary spending, etc. The fourth is store items not taken on store charge and the fifth is unretired cash advances and imprest. The last is the circumvention of the procurement process