Bitter fruit at farming project

Bitter fruit at farming project

THE Naute Fruit Farms Project, a subsidiary of the Namibia Development Corporation, has been accused of inadequate financial controls by the Office of the Auditor General.

In its audit report, the Auditor General’s office says the project failed to account for spending and income for the financial year ending March 31 2006. “The auditors could not obtain any support for income of N$4,254 million (2005: N$1,535 million) and cost of sales of N$1,763 million (2005: N$2,436 million) relating to the Naute Fruit Farms Project, for the year under review,” the report stated.It recommended monthly reconciliations to ensure that all transactions are accounted for.At yesterday’s meeting at the Naute Dam, the Parliamentary Standing Committee on Accounts expressed concern over the weaknesses the office of the Auditor General found in the project’s financial reporting system.It was revealed at the meeting that failure by an exporting agent to provide statements on production sales on the European market contributed to the poor financial controls.NDC Project Manager Piet de Wet acknowledged the weakness, and said plans were afoot to implement proper financial control systems.The Parliamentary Standing Committee visited the Project to familiarise itself with the challenges and successes of NDC projects.”The auditors could not obtain any support for income of N$4,254 million (2005: N$1,535 million) and cost of sales of N$1,763 million (2005: N$2,436 million) relating to the Naute Fruit Farms Project, for the year under review,” the report stated.It recommended monthly reconciliations to ensure that all transactions are accounted for.At yesterday’s meeting at the Naute Dam, the Parliamentary Standing Committee on Accounts expressed concern over the weaknesses the office of the Auditor General found in the project’s financial reporting system.It was revealed at the meeting that failure by an exporting agent to provide statements on production sales on the European market contributed to the poor financial controls.NDC Project Manager Piet de Wet acknowledged the weakness, and said plans were afoot to implement proper financial control systems.The Parliamentary Standing Committee visited the Project to familiarise itself with the challenges and successes of NDC projects.

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