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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

Financial Statements

4 Results / Page 1 of 1

Background
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Namibia

Competition commission achieves only 56% of performance target

The Auditor-General has provided an unqualified audit opinion on the Namibian Competition Commission's financial statements for the fiscal year ending March 31, 2024, confirming that the Commission's financial records accurately represent its status in line with International Financial Reporting Standards. Conducted in accordance with international auditing standards, the audit revealed no major issues with the Commission’s financial practices. The Auditor-General stated that he found ample audit evidence to support his […]

todayOctober 31, 2024 27

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Namibia

Auditor-General Issues Qualified Opinion on Mariental Municipality’s Financial Statements

The Auditor-General's report on the Municipality of Mariental for the financial year ending June 30, 2023, has issued a qualified opinion on its financial statements. The report identifies discrepancies in accounting for bulk purchases of water and electricity, resulting in misstatements of approximately 2.4 million Namibian dollars for water and 11.4 million for electricity due to reliance on payment-based rather than accrual-based accounting. Despite these issues, the Auditor-General affirms that […]

todayOctober 31, 2024 9

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Namibia

Ondangwa Town Council Faces Compliance Issues and Performance Management Challenges

    The Auditor-General, Junias Etuna Kandjeke, found major compliance issues in the Ondangwa Town Council's financial statements for the year ending June 30, 2023. The council failed to adhere to the Local Authorities Act and improperly implemented a new travel policy without ministerial approval, leading to over N$ 1.2 million in improper payments. Additionally, the audit revealed weaknesses in measuring key performance indicators and a lack of individual performance […]

todayOctober 31, 2024 14

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Business / Economics

Stocks track record day on Wall St, dollar extends losses

  Equity markets rallied Thursday and the dollar extended losses after the US Federal Reserve indicated it would begin cutting interest rates next year. The surge across the region tracked a record-breaking day on Wall Street, where traders cheered a much-sought-after dovish pivot from the central bank as US inflation comes down. After more than a year of hiking, decision-makers at their last meeting of the year acknowledged that they […]

todayDecember 14, 2023 4

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