Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698077481222.pdf (Guyana)
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r eJT,e7("11.0eVel, 20 January 19!.ii REPORT OF TEE AUDITOR GENERAL TO THE MEMBERS OF THE NATIOWAL FREQUENCY MANAGEMENT UNIT ON 7:YiE FINANCIAL.
STATEMENTS rag TN'S Yn1:41 ENDED 7,1 t2ECEMBER 1553 11%:v(-1 auditw2 the n financial statements of the, Vat!_onal • Mangcment Unit for the year ended 31 December 1993 ar ::cat (At: ml paces 1-t,o V. ncIspective Retiponsibilitiefi of Dizectors and Auditors The resporu-;ibility for the preparation of the financial :.t at is that of: the Unit.

 independent opinirin on these statements based on my audit.
IL is my responsibility to express an Hasis ct OpiLion I conducted my audit in accordance with generally accepted audit!nq standards.

Those standards require that I 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 amounts and disclosures on the financial statements.
An audit also includes assessing the accounting principles used and significant estimates made by Management as well as evaluating the overall financial statement presentation.

 I believe that my audit provides z' reasonable basis for my opinion.

Disclaimer of Opinion arising out of Limitation in Scope anal Fundamental Uncertainty Financial controls were generally poor and the accounting records inadequate.
It was therefore not possible to satisfactorily verify the completeness, accuracy and validity of the reported- transactions and assets and liabilities.

The amount cf $2,044,255 shown as Capital in the balance sheet included amounts of $665,035 and $700,000 representing valuations of fixed assets vested in the Unit on its establishment and a motor vehicle assigned by the Ministry of Public Works and Communications to the Unit in 1992 respectively.
These valuations were not done by certified competent authorities for such matters.

As a result, it could not be determined whether the amounts of $2,044,255 ani $4,645,686 shown as Capital and Fixed Assets respectively were fairly stated.

 The amount: of $15,471,915, representing Licence Fees, included fees received for previous years and did not take into account fees accrued at the end of the year.
Licence Fees were therefore not: accounted for in accordance with the accounting policy stated at Note 2(b) to the financial statements.

The Accumulated Depreciation of $424,464 as at the end of the previous year was subject to an audit qualification, not having been calculated in accordance with the accounting policy.

 This amount affected the computation of the current year's depreciation and the net book value of fixed assets at the end of the year.
As a result the accuracy and validity of the amounts of $868,559 and $4,645,686 shown as Depreciation for the year and-nat book value of Fixed Assets at the end of the year respectively could silot be satisfactorily determined.
Because of the significance of the matters referred to in the preceding paragraphs, I am unable to form an opinion whether the financial statements fairly present the state of affairs of the National Frequency Management Unit as at 31 December 1993 and the results of its operations for the year then ended.

;GuOLSARRAN AUDITOR GENERAL .OFFICE OF THE AUDITOR GENERAL .63 HIGH STREET KINGSTON-" I GEORGETO N NATIONAL.

FREQUENCY MANAGEMENT UNIT 8AtANCE MET AS Al DECEMBER 31, 1993 rim!
ksets Current Assct Cast, on N.and 4 at bmil.
Staff towns less: Current Liabilities Accruals Provision For Taxation Net Assets Represented by: Capital Accusulated Surplus Notes 1993 G$ 1992 G$ 2(d) & 3 4,645,06 7,396,060 1 (r.) 31,317,206 528,902 27,010,034 497,450 36,491,794 74,959,42t 135,000 11,689,278 90,000 6,275,733 11,824,278 6,365,7331 24,667,516 16,593,691 4 2,044,255 22,623,261 2,044,255 14,549,436 24,667,516 16,593,691 A-c--- Prise Minister Per pent Secretary Ministry of Public Works and Coesunication 4ifernianent Until Ministry 4 Pala Works & Co milli:gm