By Kebba Secka
The Public Enterprise Committee of the National Assembly (PEC), on Tuesday October 16th, adopted the Financial and Activities Report of the Drug Law Enforcement Agency (DLEA), with resolution. Acting Chairperson of the Committee Alagie Jawara, said the reports have been unanimously adapted but the Committee, but that it was prudent to make some recommendations for the agency, in order to enable them get a more satisfactory 2017/18 Activities Report. “As a committee, we feel it is paramount to make resolution for the Agency so that when you appear next before us for the 2017/18 Activity Reports, we can see better performance,” he told top officials of the Agency.
According to the resolution, what the DLEA referred to in their Financial Report as “statement of receipts and payments”, was rather a “cash / bank account analysis of receipts and payments.” The committee noted some information that would be put into consideration when making the Activity Report, so as to enable them have a much better 2017/18 Report. DLEA was informed that because of the accounting convention used, some information that were provided were hidden in their report. “The statements and notes thereto, are factual and can be relied upon. Notwithstanding, there is still room for improvement in you next appearance,” advised Jawara.
The committee in their resolution, directed the Ministry of Finance and Economic Affairs (MoFEA), to prepare a standard guideline for the preparation of “Financial Statements and Activity Reports” that would be based on Generally Accepted Accounting Principles (GAAP), the Companies Act, International Accounting Standard (IAS), among others.
“This will enable us have standard bases and bench markings for State Own Enterprises (SOEs) or Public Enterprises,” he concludes.