Grant Number: TF098979

Transcription

1 Public Disclosure Authorized Central Statistics Agency(CSA) Project: The Ethiopian Rural Socioeconomic Survey (ERSS)Project Grant Number: TF Auditors' Report and Accounts For the Year Ended 7 July 2016 Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized A.A. Bromhead& Co. and UK Registered Auditor

2 Auditors' Report to the Central Statistics Agency (CSA) We have audited the accompanying financial statements comprising a balance sheet, statement of receipts and expenditures and additional disclosure notes of the Central Statistics Agency (CSA) - for the year ended 7 July 2016 on pages 1 to 6, which have been prepared under the historical cost convention and the accounting policies set out on page 4. These statements are the responsibility of the Central Statistics Agency (CSA) - Ethiopian Rural Socioeconomic Survey (ERSS) Project. Our responsibility is to express our opinion thereon based on our audit. We conducted our audit in accordance with International Standards on Auditing (ISA) promulgated by the International Federation of Accountants (IFAC). These standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management as well as evaluating the overall statement presentation. The Central Statistics Agency (CSA) - management's policy is to prepare the accompanying statements on the modified cash basis in conformity with the accounting policy of the Government of the Federal Democratic Republic of Ethiopia. On this basis, cash receipts are recognized when received and expenditures are recognized when incurred. We believe our audit provides a reasonable basis for our opinion. - Value Added Tax (VAT) of 15% paid on procurement of goods and services is included in the project expenditures; whereas the 'Standard Conditions for Grants made by the World Bank', Section 3.07 states that the Grant may not be withdrawn to pay for Taxes. - A training cost incurred by the Hawassa Branch Office is understated by Br.1, 138, Consequently, the fund balance is overstated by the same amount. QUALIFIED OPINION In our opinion, except for the effects of the matters indicated in the foregoing paragraph above, the financial statements present fairly the financial position at 7 July 2016 and the receipts and expenditures of the Central Statistics Agency (CSA) - Ethiopian Rural Socioeconomic Survey (ERSS) Project for the year then ended in accordance with the accounting policies set out on page 4. A. BROMHEAD & Co. A.A. Bromhead & Co. tered Accountants and 71 Addis Ababa UK Registered Auditor ^_^ 16 May 2017 A.A. Bronhead& Co. and UK Registered Auditor

3 Balance Sheet At 7 July 2016 Currency: Ethiopian Birr Current Assets Notes Advances 3 9,029, ,242, Cash and bank balances 4 3,302, ,445, Current Liabilities 12,332, ,687, Creditors and accruals 5 10,541, , Net Current Assets 1,17224 Represented By: Fund balance 6 L20292 A.A. Bromhead& Co. and UK Registered Auditor A. A. BROMHEAD a P. 0. Bor 709 ADDIS AXiAA

4 2 Central Statistics Agency (CSA) Statement of Receipts and Expenditures For the year ended 7 July 2016 Currency: Ethiopian Birr Receipts Notes Grants from World Bank 7 8,906, ,232, Gain on exchange rates 19, , Expenditures 8,925, ,273, Per diems 2,240, , Local trainings 5,560, , Fuel and lubricants 96, , Plant, machineries and equipment 554, Other operating costs 1,729, , Excess of Receipts over Expenditures 6 M2,087,15)7 9,627, ,754, A.A. Bronhead& Co. CharteredAccountants and UK Registered Auditor A. BROMHEAD & Co. P. O. Box 70 AMBIs AMABA

5 Summary of Activities in the Designated Accounts At 7 July Currency: United States Dollar (USD) Account number: ( ) Depository bank: National Bank of Ethiopia Address: Addis Ababa, Ethiopia Notes At 8 July , Add: Replenishments 7, , Less: Withdrawals Bank charges (385,459.52) (125,000.00) ( ( ( At 7 July 2016 A.A. Bromhead& Co. and UK Registered Auditor A. A. BROMHEAD C. P. 0. Box 709 AVODk ADANA

6 Notes to the Financial Statements For the year ended 7 July Background The Government of Ethiopia has received financial assistance from the Bill and Melinda Gates Foundation through the World Bank to support the design and implementation of the under Grant No.TF for Project No.P] The total cost of the project is USD 1,832, (One million eight hundred thirty two thousand three hundred fifty six). The project is implemented by the Central Statistics Agency (CSA). 2. Significant accounting policies The financial statements are prepared under the historical cost convention using the modified cash basis of accounting. The principal accounting policies adopted by the project, consistent with those applied in the preceding years, are stated below a. Property, plant and equipment Property, plant and equipment are expensed at the time of purchase. b. Stocks Stock items are expensed at the time of purchase. c. Receipts and expenditures Receipts and expenditures are recognized when received and incurred, respectively. d. Exchange rates Receipts in foreign currencies are converted to Ethiopian Birr at the ruling exchange rates on the dates of transfer to the project's Ethiopian Birr account. Balances in foreign currencies at the closing dates are translated to Ethiopian Birr at the exchange rates prevailing on the reporting dates. A.A. Bronhead& Co. and UK Registered Auditor A. A. BROMHEAD & Chartered Accountant P. 0. Bo 70I ADD15 AMARJ4

7 Notes to the Financial Statements For the year ended 7 July Advances Currency: Ethiopian Birr Advances within Government 8,943, ,209, Staff advances 84, , Sundries 1, ,029, Cash and bank balances Cash at bank 3,302, , Creditors and accruals Projects and others 10,403, , Withholding tax payable - 10, Value Added Tax , Others 138, , ,541, , Fund balance At 8 July ,492, ,828, Prior period adjustments - 144, ,492, ,972, Receipts including exchange gain 8,925, ,273, Expenditure during the year (9,627,472.49) (2,754,177.09) Excess of receipts over expenditure for the year (702,087.15) 519, At 7 July ,790,129,84 2, A.A. Bromhead& Co. and UK Registered Auditor A. A.BROMHEAD & C. P. o. Box 709 ADIS AMAMA

8 Notes to the Financial Statements For the year ended 7 July Currency: Ethiopian Birr 7. Grants from World Bank USD ETB USD ETB World Bank grants 417, B06, , Statement of expenditures (SOEs) replenished Withdrawal application USD ETB USD ETB DSP , ,232, LSMSO4 61, ,282, LSMSO2 70, ,476, LSMSO3 86, ,824, LSMSO4 130, ,820, DSP 20 68, ,502, ,078.58,906A J.6J10l4l &5 9. Comparative figures Certain comparative figures have been reclassified to facilitate comparison. A.A. Bronhead& Co. CharteredAccountants and UK Registered Auditor P.O. Box 709, Addis Ababa, Ethiopia, Telephone / , Fax A. A. BROMHEAD & CO