News / National
ZEC defends self on failure to submit 2018 -2019 financials for audit
27 Aug 2021 at 10:02hrs | Views
The Zimbabwe Electoral Commission (ZEC) has defended itself from reports that it has failed to submit financial reports for 2018 and 2019 for audit.
The defence was made through a statement by Commissioner Qhubani Moyo today.
He said ZEC noted with concern the statement circulating on social media attributed to Election Resource Centre (ERC).
"The statement purports that the Commission has failed to submit its 2018 and 2019 financials for audit by the Auditor General. Contrary to the statement, the correct position is that the 2018 Accounts were submitted for audit by the Auditor-General in terms of the Public Finance Management Act [Chapter 22:19] as read with the Electoral Act [Chapter 2:13] under State Enterprises," Moyo said.
"The audit report, as a public document, is available for inspection by all concerned stakeholders. The 2019 accounts are yet to be audited owing to the inflation adjustments that need to be factored, in line with Public Accounts and Auditors` Board and International Financial Reporting Standards (IFRS) to reflect the fluctuations occasioned by the movement of the currency from the USD to the RTGS."
He said this position was communicated to the Auditor-General's office and acknowledged.
"Therefore, to say that the Commission has failed to submit its financials for audit is not only misleading but it has a potential to cause alarm and despondency among the electorate and the nation at large, hence the Commission dismisses the statement with the contempt it deserves," Moyo said.
The defence was made through a statement by Commissioner Qhubani Moyo today.
He said ZEC noted with concern the statement circulating on social media attributed to Election Resource Centre (ERC).
"The statement purports that the Commission has failed to submit its 2018 and 2019 financials for audit by the Auditor General. Contrary to the statement, the correct position is that the 2018 Accounts were submitted for audit by the Auditor-General in terms of the Public Finance Management Act [Chapter 22:19] as read with the Electoral Act [Chapter 2:13] under State Enterprises," Moyo said.
"The audit report, as a public document, is available for inspection by all concerned stakeholders. The 2019 accounts are yet to be audited owing to the inflation adjustments that need to be factored, in line with Public Accounts and Auditors` Board and International Financial Reporting Standards (IFRS) to reflect the fluctuations occasioned by the movement of the currency from the USD to the RTGS."
He said this position was communicated to the Auditor-General's office and acknowledged.
"Therefore, to say that the Commission has failed to submit its financials for audit is not only misleading but it has a potential to cause alarm and despondency among the electorate and the nation at large, hence the Commission dismisses the statement with the contempt it deserves," Moyo said.
Source - Byo24News
