A former president of the Association of National Accountants of Nigeria (ANAN), Dr Samuel Nzekwe, said on Sunday that most Ministries, Departments and Agencies (MDAs) of government were in arrears of unaudited accounts.He said that most MDAs were not being audited as and when due by external auditors.According to him, if the MDAs are not audited as and when due, it will be difficult for the Federal Government to detect the total amount either remitted or under-remitted into the Consolidated Revenue Fund Account.
Nzekwe spoke against the backdrop of government’s decision to prosecute some officials of revenue generating agencies over unremitted N450 billion to the Consolidated Revenue Fund Account.The amount which involved 33 revenue generating agencies of government was from 2010 to 2015 Fiscal periods.“Sometimes it takes so many years in arrears before the MDAs invite external auditors. If the financial records of the MDAs are audited as and when due, the financial information will be fresh.
“When an auditor is called to audit accounts of two to three years, some of the financial information he is having, would have either been overtaking by events of lost,” NAN quotes Nzekwe as saying“There are bloated expenses. There is non-remittance of money back to the Consolidated Revenue Fund Account,’’ he said.Nzekwe added that due to the activities of some people in high places, the recurrent expenditure went high.
“Is a good idea that the government is taking steps to recover N450 billion unremitted funds,’’ NAN quotes the accountant as saying