GAC Lacks Audit Plans - New AG
The new Auditor General of Liberia Robert Kilby says the General Auditing Commission lacks clear plans in audits conducted so far.
Kilby, whose ascendency as Auditor General was marred by controversy following his earlier rejection by the Senate for questionable credentials, said due to the poor system at the GAC, auditors encounter difficulty in speedily conducting audits and coming up with results on time.
Speaking in Monrovia Thursday, Kilby said as a professional auditor, the first thing to do is to have a plan and establish database for information gathering on an entity that is expected to be audited before proceeding.
He said one key issue the Commission needs to address is the worth of the Government of Liberia, adding to audit an institution, “the first thing to know is the worth of the entity before moving in troubleshooting areas to get your results in the shortest time.”
Kilby pointed out that conducting audit of all property accounts and transactions of all government agencies and organizations, such audits will be conducted as far as practicable at the place or places where the property and records are located and shall include an evaluation of the effectiveness of Internal Control and other methods of safeguarding the assets of the government.
He promised to check the Books of Accounts of privately-owned establishments for the purpose of verifying transactions with Government Agencies and Government Organizations, requiring outside written confirmation of Account Receivables and employing such other External Audit Procedures as deemed necessary.
Kilby spoke Thursday at the start of a one-day retreat organized by the General Auditing Commission in collaboration with Internal Audit Governance Board Secretariat (IAGBS) held at a local hotel here, bringing together employees of the GAC.