The Gambia Institute of Chartered Accountants (GICA), in a press release responding to President Adama Barrow’s statement on audit reports, said the former’s argument does not represent the term “audit opinion.”
This came following a statement made by the President in an interview with Star TV on the matter of auditors’ report on various corruption scandals within the government, which he said are just “opinions.”
In response, GICA said the statement does not reflect auditors’ work and what the accounting term “audit opinion” represents.
“For clarification, an opinion is the result of an independent, professionally planned, systematically conducted, and executed audit program,” GICA said.
They also clarified that they are not aware of any bias against the management and accountants of institutions, projects, departments, or entities and accounting officers based on the audit opinion of its members.
“Audit reports presented are the results of audits that are performed through a diligent and independent application of international auditing standards to examine records and other necessary procedures,” the release added.
GICA further emphasized the procedures by which their audit reports are finalized.
“Management letters are issued to managers and directors of the institutions, and they are allowed to respond to all the issues raised with facts and evidence before the audit is close and an “opinion” given on the financial statements,” GICA stated.
GICA is the governing body of auditors in The Gambia — an institute established by the Financial Reporting Act 2013.
The institution renewed its commitment to making judgments based on professional working standards with ethics and techniques derived from the evidence.