Lands and Surveys still working to update accounts to Auditor General’s satisfaction

The Guyana Lands and Surveys Commission is still working to update its accounts to the Auditor General’s professional satisfaction as specified in the laws of Guyana.

There were several discrepancies highlighted in an audit of the agency’s financial statement of 2010. The Audit was initially done by chartered auditors attached to TSD LAL and Company, then passed to the Audit Office of Guyana.

The Audit Office only sent copies of the report to Lands and Surveys Commissioner and Board on November 3, 2016.

The report recorded both auditing agencies saying that there were several instances where records could not have verified.

Auditors had concerns about the General Reserve Fund, the revaluation reserve, accounts receivable and prepayments and the property plant, plant and equipment. Auditors noted that the included in the General Reserve Fund of $19,727,860 was a debit balance of $18,574,293 which could not have been verified. Further, the revaluation reserve of $536,125,787 included a debit balance of $9,047,168 which could not have been verified. Also, auditors noted that no detail was provided for the verification of the balance of $536,125,787 at 31 December 2010. Accounts receivable and prepayments of $95,539,261 included numerous balances coming forward from previous years which were not settled subsequently. Auditors noted that no age analysis and impairment review of the balances was done.

“Also, no response was received to the confirmations sent to selected debtors.” Auditors noted too that a physical verification of property, plant and equipment stated at $894,768,917 was not done neither was an impairment review. It was also stated that the fixed assets register did not contain all assets owned by the Commission and could not be compared to the general ledger. And, evidence of ownership of properties and vehicles were not seen.

Auditor General Deodat Sharma stated, “Because of the significance of the matters described in the Basis for Disclaimer of Opinion paragraphs, I have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion. Accordingly, I do not express an opinion on these financial statements. Sharma also stated that the financial statements did not comply with the requirements of Section 28(2) of the Guyana Lands and Surveys Commission Act 1991 which states that the books and accounts of the Commission shall within three months after the end of each financial year of the Commission be audited by the Auditor General or by an auditor authorized by him. “This was not done as the audit was not completed within the stipulated time.” Commissioner of Lands and Survey, Trevor Benn said that the issues highlighted in the 2010 audit went unaddressed for several years. He said however that recently, “there have been significant changes.” He said that he was not at liberty to list those changes as the financial statement for 2017 which would reflect those changes is still to be completed.

(Kaieteur News)