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Summary of External Audit Finding 2010

Summary External Audit Findings 

Within their management letter, Ernst & Young’s findings and recommendations for the audit period from 1st January 2010 to 31 December 2010 were finalized on 5 August, 2011.

The followings are points raised by the audit firm for the period concerned:

  • Component 1A - Arbitration Council Foundation (ACF):
  1. No Reconciliation of Fixed Asset
  2. Format of Fixed Asset Code and Non Sufficient Information in Fixed Asset Listing
  • Component 1B - Ministry of National Assembly – Senate Relations and Inspection (MONASRI):
  1. Withhold tax on consultant service
  2. Petty cash disbursement above stipulated limit
  3. Lack of stamp “PAID” on supporting documents
  4. No tagging on some items of fixed asset
  5. No Request for payment on certain disbursements
  • Component 1C - One Window Service Office and District Ombudsman (OWSO):
  1. No surprise cash count has been performed
  2. Lack of segregation of duties over finance functions and accounting system
  3. Lack of stamp “PAID” on payment vouchers
  4. Voucher numbers were not proper sequential posting
  • Component 1D - Radio National of Kampuchea (RNK):
  1. Improper control over vouchers and reference numbers
  2. Lack of stamp “PAID” on invoices 
  • Component 2 - The Asian Foundation (TAF):
  1. No Site Monitoring on Sub Grant
  2. Withholding Tax on Consultant Fee
  • Component 3 - Project Coordination Office (PCO): N/A 

 

 
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