REPORT of the Auditor-General for the FINANCIAL YEAR ENDED DECEMBER 31, 2016 ON STATE ENTERPRISES AND PARASTATALS

Looting! Highlights from the Report

Auditor-General-Mrs-Mildred-Chiri-
Mildred Chiri,                Auditor-General of Zimbabwe
  • MMCZ did not have a fully constituted board since 2013. Furthermore, the Corporation incurred expenditure on donations amounting to $2 989 913 that exceeded the approved budget of $250 000.
  • The GMB diverted grain purchase funds amounting to $7,9 million to non-related activities.
  • The Zimbabwe Youth Council did not avail supporting documents for audit for the period January 2009 to June 2010, furthermore, the Youth Council received $362 000 in donations for which it could not avail supporting documents for expenditure.
  • Litefold Engineering (Private) Limited, a subsidiary of Small and Medium Enterprises Development Corporation (SMEDCO) did not maintain proper books of accounts since introduction of the multi-currency system.
  • There was continued non-compliance with statutory requirements. Some fringe benefits were processed outside the payroll and not subjected to tax. These cases were noted for ZIMRA, CAAZ, ZINARA, MMCZ and National Museums and Monuments.
  • ZINARA could not support project expenditure amounting to at least $2.1 million and ZIMSTATS could not support census expenditure amounting to $28 million

Download Here: OAG Report for State Enterprises and Parastatals Report 2016

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