insert_link Namibia Nkurenkuru Town Council Receives Adverse Audit Report Amid Financial Irregularities The Auditor-General’s latest report on the Nkurenkuru Town Council has issued an adverse audit opinion for the financial year ending 30 June 2023. Key findings include improper revenue recognition for land sales, overstatements in infrastructure projects, VAT discrepancies, and issues with trade receivables. Additionally, the Council implemented a travel allowance policy against ministerial advice. Recommendations were given to improve compliance with accounting standards and ensure accurate financial reporting. todayNovember 1, 2024 8
insert_link 2 Namibia Auditor-General’s Report Flags Major Financial Issues at the Municipality of Windhoek The Auditor-General’s report on Windhoek Municipality’s 2022 and 2023 finances, highlights major concerns, resulting in a disclaimer of opinion. Key issues include missing accounting policies for public-private partnerships, unapproved salary increases, incomplete land records, and possible data manipulation. With liabilities exceeding assets by over 723 million dollars, the Municipality faces serious solvency risks. The report warns these issues could impact service delivery, urging stricter controls and a financial recovery plan. todayOctober 31, 2024 40 2
insert_link Namibia NamRa collects N$21.4 billion in Q2 revenue The Namibia Revenue Agency has collected N$21.4 billion in revenue during the quarter ending 30 June 2024, representing 25.1% of the N$85.3 billion annual revenue target. NamRA's Commissioner and CEO, Sam Shivute, said that domestic taxes were the main contributor, generating N$13.5 billion or 63% of the total revenue. According to The Brief, the remaining N$7.9 billion was derived from customs and excise duties, primarily through SACU receipts. todayAugust 5, 2024 27