Audit observed from Note 10, ‘Transfer to Fund Recurrent Expenditure-Receipt’ that the sum of N8,101,138,219,106.11 was disclosed as ‘Transfer to other Government Entities’ in the Consolidated Statement of Financial Performance. However, further examination of Note 21, ‘Transfer to Other Government Entities’ revealed the sum of N11,728,390,153,729.30 as receipts by 944
MDAs thereby giving rise to an unsubstantiated difference of N3,627,251,934,623.21 which was recognized in the Consolidated Statement of Financial Performance. The audit is unable to validate the correctness or otherwise of the difference under reference.
The Accountant-General of the Federation is kindly requested to:
i. Provide justification for non-compliance with the provisions of IPSAS 1, and
ii. Provide reconciliation statement(s) for N3,627,251,934,623.21 recognized in the Consolidated Statement of Financial Performance as Transfer to other Government Entities.
iii. Otherwise, sanction relating to provisions of FR 3129 should accordingly apply.
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