Liberia Ministry of Finance spent US$3.36 million over budget

The Office of the Auditor General has issued an adverse audit opinion regarding the Ministry of Finance and Development Planning (MFDP) in Liberia. An audit report covering the 2018/2019 fiscal period, from July 1, 2018, to June 30, 2019, found that the ministry spent US$3,367,281 beyond its approved annual budget without obtaining authorization from the National Legislature.

Auditor General P. Garswa Jackson stated that the unauthorized excess expenditure had a pervasive impact on the ministry’s financial statements. The report concluded that the financial records did not fairly present the ministry’s financial position and performance in accordance with the 2017 International Public Sector Accounting Standards (IPSAS) Cash Basis of Accounting. The findings raise concerns regarding compliance with the country’s budgetary authorization framework and the reliability of reported financial data.