A recent audit report by Sierra Leone’s Auditor General has exposed troubling financial discrepancies within the government’s operations, raising red flags about the country’s fiscal management and accountability.
Presented to Parliament by the Deputy Speaker and Chairman of the Public Accounts Committee (PAC), the report sheds light on uncollected loans, improper financial documentation, and unsupported expenditures across several government ministries and departments.
One of the most concerning findings from the 2023 audit is the outstanding loans to State-Owned Enterprises (SOEs), totaling NLe200,599,603.
Despite being expected to repay these loans by December 31, 2023, the funds remain unpaid, highlighting a significant gap in debt recovery processes within the government.
The report also delves into the issue of duty waivers granted to businesses, with 31 companies receiving a combined total of NLe3,197,986.10 in tax exemptions. Alarmingly, many of these waivers were issued without critical supporting documents such as business registration certificates, approval from relevant ministries, and other essential paperwork.
This lack of transparency in granting waivers raises questions about the integrity of the waiver process.Additionally, the audit uncovered issues within the National Revenue Authority (NRA), particularly regarding home-use (IM4) declarations made at the Lungi Department.
These declarations, amounting to NLe8,698,923.58, lacked necessary supporting documents, further complicating efforts to ensure proper revenue collection.
Further financial concerns were highlighted in the report regarding imprest bank accounts used by government ministries.
Significant transactions totaling NLe18,129,006.37, US$3,004,387.25, and €3,615,048 were made without the required supporting documentation, leaving auditors unable to ascertain the legitimacy or purpose of these expenditures.
These revelations point to a pattern of financial mismanagement and a lack of adequate oversight in state-funded operations.
The report emphasizes the need for stronger fiscal accountability measures and improved documentation practices to safeguard public funds and enhance trust in the government’s financial systems
