By Alhaji Haruna Sani
The 2023 Audit Report on the Public Accounts of Sierra Leone has revealed a shocking financial loss of NLe 233.78 million, equivalent to approximately US$10.46 million, €11,205, and £28,464.
The report marks a significant fiscal concern as highlighted by the Auditor-General’s findings, surpassing irregularities reported in previous years.
The report detailed numerous financial irregularities uncovered during the audit of 157 public entities, including 63 Ministries and Departments, 67 Public Enterprises and Commissions, 22 Local Councils, three Diplomatic Missions, and two Performance Audits.
The identified financial irregularities were classified into six major categories, Statutory Deductions Not Paid, instances where government agencies failed to remit mandatory deductions such as taxes and social security contributions.
Assets and stores management which shows weaknesses in managing government assets and inventory, expenditure management including unauthorized and unsupported expenditures, salaries and payroll management with irregularities such as ghost workers and overpayments, procurement and contract management and non-compliance with procurement laws and dubious contract awards.
Also revenue management shows under-collection or mismanagement of public funds.
The highest losses were recorded in Ministries and Departments, totaling NLe 152.60 million (US$10.46 million), while Local Councils accounted for NLe 4.76 million. Donor-funded projects, commissions, and public enterprises registered NLe 76.41 million, with additional amounts in foreign currencies.
Comparison with Previous Years
A comparison with the 2022 Audit Report shows a worrying upward trend in financial mismanagement. Last year’s reported losses stood at NLe 190 million, indicating a sharp increase of over NLe 43 million in 2023. This surge underscores persistent lapses in public financial management despite ongoing reforms.
With mounting financial losses year after year, public pressure is expected to rise for more transparency and accountability in managing Sierra Leone’s public funds.
