By omar Bah
The National Audit Office (NAO) has given public institutions until 31 March to submit their financial statements for audit.
This call addresses persistent delays in financial reporting, which hinder accountability and the National Assembly’s oversight of public funds.
According to the NAO, timely and credible financial statements are essential for transparency, effective governance, and public trust in financial management. Institutions failing to comply may risk been included in a special report to the National Assembly detailing submission statuses.
“Referencing to the press release issued in December 2024, the Auditor General (AG) wishes to once again remind those charged with governance of public institutions (i.e. Board and Management), of their statutory responsibility to prepare and submit their financial statements by 31 March 2025, for audit. This reminder also extends to public institutions whose audits are currently outsourced to private audit firms,” the NAO said in a statement shared with The Standard.
The institutions are also reminded that as part of NAO’s commitment to remedy this prolonged challenge, and in line with its functions, the Auditor General will now include in his annual report to the National Assembly, a summary on the status of financial reporting by public institutions.
The NAO added that a section of this report will include a summary on institutions that submitted their financial statements on time, those that submitted after the 31 March deadline, and those that did not submit at all.
“Additionally, institutions are encouraged to ensure their financial statements are credible and prepared accurately in line with their adopted financial reporting framework. The submission of sub-standard financial statements also hinders the commencement of the planned audits,” NAO added.
According to the NAO, the Auditor General seeks the cooperation of all, and reassures the institutions and all other stakeholders that the audit service delivery is purposely to enhance accountability and transparency in the country’s public financial management system.
