Tuesday, July 24, 2018 11.53AM / OAuGF
The Auditor-General for the Federation (AuGF), Mr. Anthony Mkpe Ayine, on Thursday 21st June, 2018 submitted the743 page 2016 Audited Annual Report of his Office to the National Assembly.
While submitting the report, Mr. Ayine disclosed the content of the box presented to include four hard copies and two soft copies of the 2016 Audited Annual Report of the Office.
On his part, the Clerk to the National Assembly, Mohammed Ataba Sani-Omolori, while receiving the Report, thanked Mr. Ayine and his team for working tirelessly to ensure that the submission was done in record time, in spite of the many challenges encountered.
Speaking in a brief interview at the end of the submission exercise, the chairman of the 2016 AuGF’s Annual Report Writing Committee, Mr. Daniel Bosa, attributed the timely completion of the Report to the support of his team and expressed optimism that the 2017 Audited Annual Report would be ready before the end of 2018.
The 2016 OAuGF Report -AUDITOR-GENERAL’S CERTIFICATE
Report of the Auditor-General for the Federation on the Financial Statements for year ended 31st December 2016: Audit Opinion
I have audited the financial statements of the Federal Government of Nigeria, which comprise the statement of financial position as at December 31, 2016, and the statement of financial performance, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies.
In my opinion, except for the effects of the matters described in the Basis for Qualified Opinion section of this report, the accompanying financial statements present fairly, in all material respects, the financial position of the Federal Government of Nigeria as at December 31, 2016, and (of) its financial performance and its cash flows for the year then ended in accordance with International Public Sector Accounting Standards (IPSAS).
Basis for Qualified Opinion
EXEMPTIONS TAKEN ON FIRST TIME ADOPTION OF IPSASs
The Federal Government has taken advantage of certain transitional exemptions available to first time adopters of International Public Sector Accounting Standards (IPSAS). As stated within the Accounting Policies Note, the exemptions in respect of accounting for revenues and assets affect the fair presentation of the Financial Statements.
DEFICIENCIES IN THE CONSOLIDATION PROCESS
Deficiencies were noted in the process for consolidating the balances of Ministries, Departments and Agencies into one economic entity. Furthermore, the Consolidation boundary for the Federal Governments‟ Financial Statements is not adequately defined, and the justification for the exclusion of several significant balances was uncertain.
Responsibility for the financial statements
In accordance with the provisions of the Finance (Control and Management) Act, Cap F26 LFN 2004, the Accountant-General of the Federation is responsible for the preparation and fair presentation of the Financial Statements of the Federal Government of Nigeria, in accordance with the International Public Sector Accounting Standards (IPSAS). The Accountant-General has thus prepared and submitted to me for audit the Financial Statements as reproduced at Section 10 of my report, in accordance with Section 24 of Finance (Control and Management) Act and Section 85(5) of the Constitution of the Federal Republic of Nigeria 1999 (as amended).
My responsibility is to express an opinion on the financial statements based on audit. I conducted my audit in accordance with the International Standards of Supreme Audit Institutions. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance as to whether the financial statements are free from material misstatement.
An audit involves the performance of procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the Auditor‟s judgement, including the assessment of the risks of material misstatement in the financial statements, whether due to fraud or error. In making those risk assessments, the Auditor considers internal control relevant to the entity‟s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal controls.
An audit also includes an evaluation of the appropriateness of the accounting polices used and the reasonableness of the accounting estimates made by management, as well as of the overall presentation of the financial statements.
I believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for my audit opinion.
Report on other legal and regulatory requirements
Furthermore, in my opinion, the transactions of the Federal Government of Nigeria operations that have come to our notice or that we have tested as part of our audit have, in all significant respects, been in accordance with the Financial Regulations and other relevant legislative Authorities.
A. M. AYINE, FCA
Auditor-General for the Federation
Office of the Auditor-General for the Federation
Plot 273 Samuel Ademulegun Street, Central Business District
P.M.B 128 Garki, Abuja, Nigeria
31st May, 2018
Reports Available via the OAuGF website
1. OAuGF Annual Audit Report 2016
2. OAuGF Annual Audit Report 2015 (Part 1)
3. OAuGF Annual Audit Report 2015 (Part 2)
4. Annual Report AuGF Nigeria 2014
5. Annual Report AuGF Nigeria 2013
6. Annual Report AuGF Nigeria 2012
7. A Feature on the Audit Bill
8. Highlights of Observations on the 2014 Annual Report by the Office of the Auditor-General for the Federation. 14th March, 2016 Part 1
9. Highlights of Observations on the 2014 Annual Report by the Office of the Auditor-General for the Federation. 14th March, 201614th March, 2016. Part 2
10. National Audit Report of Nigeria on Environmental Audit of the Drying up of Lake Chad
11.Joint Audit Report on Environmental Audit of the Drying up of Lake Chad
12.Pwc Investigative Forensic Audit into the Allegations of Unremitted Funds into the Federation Accounts by the NNPC - Final Report.Pwc Investigative Forensic Audit into the Allegations of Unremitted Funds into the Federation Accounts by the NNPC - Final Report.
13. OAuGF Strategic Development 2017