‘SOEs maintain clean audit reports’

Auditor-general Junias Kandjeke has praised state-owned enterprises (SOEs) for continuously submitting clean financial reports for the past five years.

Speaking during a meeting with SOE representatives in Windhoek Tuesday, Kandjeke said the majority of SOEs were also doing well in terms of audit opinions.

The meeting was aimed at discussing challenges with regard to financial reporting and expectations of SOEs from the AG’s office.

Kandjeke said some SOEs do however not have acceptable reporting and accounting standards as public interest entities, while some fail to meet deadlines as per the SOE Act.

“Late submission of financial statements is a concern and it is a violation of the law, therefore the requests for extensions should be discouraged,” he stressed.

He urged stakeholders to promptly follow up on issues, adding that clean or bad audit opinion do not depend on the AG, but depend on the management of the entity concerned.

“If SOEs want clean reports, they should solve problems that are indicated as reasons for bad audit opinions,” Kandjeke said.

The AG further stated that citing lack of funds as reasons in audit reports may not be enough because resources will never be enough.

He therefore advised that SOEs come up with resolutions based on the available resources given the current financial resources.

SOEs and the AG’s office have been having dialogues since 2013 under the theme ‘Strengthening Public Finance Management’. - Nampa