NSC financial reports running late
By Michael Uugwanga
THE financially stricken Namibia Sports Commission (NSC) has in the past few years failed to submit its audited financial reports to the Ministry of Sport, Youth and National Service on time.
The audited financial reports under scrutiny are those of 2014/2015, 2015/2016, 2016/2017, 2018/2019 which the NSC only submitted in bulk in May last year.
The delay has also resulted in the Ministry of Sport failing to table the financial reports in parliament.
In an interview with Confidente Sport this week, NSC chief administrator Freddy Mwiya said that the financial books of the commission were in a mess.
Mwiya said that since taking up office in 2017 he has managed to make sure that the financial books are updated.
“So far the 2014 /15, 2015/2016, 2016/2017, 2018/2019 books have all been audited. The one for 2020 will be done after the current financial year. We are happy that great improvement and accountability is in place. Tabling is not our business but that of the Ministry of Sport,” he said.
NSC is classified as a state-owned enterprise (SOE) and just like other SOEs, it is compulsory for the organisation to submit its audited financial reports to be tabled in parliament.
NSC books are audited by an external firm Hamilton Chartered Accountants, since 2014. The commission relies on government funding and from its partners such as MTC, Coca-Cola, Namibia Breweries Limited and Nampower.
Sports executive director, Audrin Mathe said that the ministry is looking at the office of the auditor-general as an institution that will be responsible for auditing the books of NSC.
“The financial reports of 2018/2019 are done but not yet submitted to us. The NSC had an issue of paying an outsider auditor, so going forward we are looking at the auditor-general as a way to cut costs,” said Mathe.
According to the Ministry of Public Enterprises, all SOEs are expected report to the office of the auditor-general for due process on their financial books to be audited.
“On the contrary, the office of the AG does not carry the internal capacity to audit all the books of public entities, therefore under normal circumstances the office of the AG will then request a certain SOE to solicit the services of an external auditor. In this situation, the AG’s office will thereafter examine the audited financials,” said the public relations officer in the Ministry of Public Enterprises, Jonathan Swartz.
Meanwhile, Hamilton Chartered Accountants’ auditor manager, Adolf Prince told Confidente that the audited financial reports were not signed off by NSC, despite the commission having already submitted in the reports to the Ministry of Sport.
“We have not asked them (NSC) yet as to why they have not signed off the reports because the signed off reports are supposed to be given to the NSC board and sent back to us so that they indicate on whether they are happy with the audited financial reports,” said Prince.
The NSC was established under the Namibia Sports Act 12 of 2003 as an independent body responsible for the registration and regulation of national sports bodies and umbrella sports bodies; to provide doping control tests; and to provide for incidental matters.