The National Treasury AREAS OF IMPROVEMENT AND PREPARATION OF THE AUDIT FILE FINANCIAL YEAR 2014/2015

Areas of Improvement

Areas of Improvement – FY 2015/2016 Entrance and exit meetings Coordination of the Audit Process Regular Progress Meetings Provide all Documentation in Site Involve the Internal Audit Function and Other Stakeholders. Areas of Improvement – FY 2015/2016

Areas of Improvement – FY 2015/2016 1. Entrance and exit meetings It is important that the Accounting Officer attends both the entrance and the exit meeting with the Auditor General. This enables the team to plan better for the audit and also enable one to get acquainted with any outstanding issues at the end of the audit process that will require your closely follow up. It is critical to ensure that proper minutes are kept for each meeting held with the Auditors. Areas of Improvement – FY 2015/2016

Areas of Improvement – FY 2015/2016 2. Coordination of the Audit Process For proper coordination of the audit exercise, it is critical to have a senior officer coordinate the audit process and act as the liaison person with the Auditor General who will flag out issues that require immediate attention. Areas of Improvement – FY 2015/2016

Areas of Improvement – FY 2015/2016 3. Regular Progress Meetings It is critical to hold regular meetings with the audit team to discuss the progress of the audit exercise. This enables resolution of issues rather than waiting for the issues to pile up for the exit meeting or following up issues Areas of Improvement – FY 2015/2016

Areas of Improvement – FY 2015/2016 4. Provide all documentation on site It is critical to ensure that your team cooperates with the Auditor General during the audit process. All documents requested for scrutiny by the Auditor General would need to be provided promptly while the audit team is on—site. Documents requested and handed over to the auditors should also be well recorded for traceability and ensuring safe custody. Correspondence including oral conversations on resolution of issues between the auditor and the MDA should always be documented and put in a file. Areas of Improvement – FY 2015/2016

Areas of Improvement – FY 2015/2016 5. Involve the Internal Audit function and other stakeholders: You are encouraged to involve all stakeholders for purposes of ensuring that all documentations supporting the transactions during the year under audit are available for scrutiny. These are : The Internal Auditors The Finance/Budgeting Officers The Imprest Accounting Officers The Procurement Accounting Officers The Bank and Ledger Reconciliation Accounting Officers The Consultant who offer Technical Assistance Areas of Improvement – FY 2015/2016

Preparation of the Audit File

Preparation of the Audit File Extracted and Reconciled reports from IFMIS i.e Statement of Financial Position (Statement of Assets and Liabilities), Statement of Receipts and Payments, Statement of Cashflows, Statement of Budget Execution (Statement of Appropriation) and the notes to the statements extract from IFMIS. A complete and valid IFMIS Trial Balance Reconciled Inter - Entity Confirmations between sending and receiving entity. Exchequer Receipts confirmed with memos from The National Treasury. Manual and auto bank reconciliations prepared and reviewed with outstanding reconciling issues resolved . Preparation of the Audit File

Preparation of the Audit File Well supported Imprest Register Well Supported Fixed Asset Register Pending Bills Listing Account Analysis from IFMIS Source Documents to support receipts and Expenditure Items Support for Journal Vouchers Preparation of the Audit File