No financial statements for Guardian Fund

THE Guardian Fund – in which inherited money is kept in trust for children – could not be audited for the past seven years because no financial statements were available.

“This state of affairs is not acceptable and the Master of the High Court should explain why he has failed to produce financial statements for the past seven years,” said Auditor General Junias Kandjeke in his latest audit of the Justice Ministry, which was tabled in Parliament last week. “The Permanent Secretary of the Ministry promised the Parliamentary Public Accounts Committee that all outstanding financial statements of the Guardian Fund will be submitted by January 15 2008,” Kandjeke added.The audit report covers the period April 2005 to March 2006.As with most ministries, outstanding travel allowances paid to officials in advance were a problem at the Justice Ministry.The figure came to N$358 904.The Justice Ministry overspent by N$1,67 million on one division, but N$8,9 million, or 5 per cent of its budget, was not spent.”The Permanent Secretary of the Ministry promised the Parliamentary Public Accounts Committee that all outstanding financial statements of the Guardian Fund will be submitted by January 15 2008,” Kandjeke added.The audit report covers the period April 2005 to March 2006.As with most ministries, outstanding travel allowances paid to officials in advance were a problem at the Justice Ministry.The figure came to N$358 904.The Justice Ministry overspent by N$1,67 million on one division, but N$8,9 million, or 5 per cent of its budget, was not spent.