AUDITOR GENERAL'S REPORT On The Financial Statement Audit of the Liberia Land Administration Project (LLAP) Grant No. IDA D2370 For the Period ended June 30, 2021 December, 2021 P. Garswa Jackson ACCA, CFIP, CFC Auditor General, R.L. Auditor General's Report on the Financial Statement Audit of the Liberia Land Administration Project (LLAP) For the Period Ended June 30, 2021 Table of Contents Opinion ......................................................................................................................... 3 Basis for Opinion............................................................................................................ 3 Management’s Responsibility for the Financial Statements ................................................. 3 Auditor General’s Responsibility ....................................................................................... 3 LLAP Financial Statement for the Period Ended June 30, 2021 ........................................... 5 2 Promoting Accountability of Public Resources Auditor General's Report on the Financial Statement Audit of the Liberia Land Administration Project (LLAP) For the Period Ended June 30, 2021 AUDITOR GENERAL'S REPORT ON THE FINANCIAL STATEMENT AUDIT OF LIBERIA LAND ADMINISTRATION PROJECT (LLAP) FOR THE PERIOD ENDED JUNE 30, 2021. We have audited the financial statements (Grant No. IDA D2370) of the Liberia Land Administration Project (LLAP), which comprise the statement of Cash Receipts and Payments for the period ended 30 June 2021, the Statement of Comparison Budget and Actual Amounts and a summary of significant accounting policies and other explanatory information. Opinion In our opinion, the accompanying financial statements (Grant No. IDA D2370) present fairly, in all material respects, the Statement of Receipts and Payments as at June 30, 2021, Statement of Comparison of Budget and Actual Amounts and a summary of other accounting policies and explanatory notes for the fiscal period then ended in accordance with International Public Sector Accounting Standards (IPSAS) Cash Basis of Accounting. Basis for Opinion We conducted our audit in accordance with International Standards of Supreme Audit Institutions. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the entity in accordance with the Code of Ethics for Supreme Audit Institutions together with the ethical requirements that are relevant to our audit of the financial statements in accordance with the World Bank guideline and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with International Public Sector Accounting Standards (IPSAS) Cash Basis of Accounting, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor General’s Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards of Supreme Audit Institutions (ISSAIs). Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. 3 Promoting Accountability of Public Resources Auditor General's Report on the Financial Statement Audit of the Liberia Land Administration Project (LLAP) For the Period Ended June 30, 2021 In making those risk assessments, the auditor considers internal controls relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Monrovia, Liberia December, 2021 4 Promoting Accountability of Public Resources Auditor General's Report on the Financial Statement Audit of the Liberia Land Administration Project (LLAP) For the Period Ended June 30, 2021 LLAP Financial Statement for the Period Ended June 30, 2021 5 Promoting Accountability of Public Resources Auditor General's Report on the Financial Statement Audit of the Liberia Land Administration Project (LLAP) For the Period Ended June 30, 2021 The notes on pages 10 to 14 are integral part of these project financial reports 6 Promoting Accountability of Public Resources Auditor General's Report on the Financial Statement Audit of the Liberia Land Administration Project (LLAP) For the Period Ended June 30, 2021 The notes on pages 10 to 14 are integral part of these project financial reports 7 Promoting Accountability of Public Resources Auditor General's Report on the Financial Statement Audit of the Liberia Land Administration Project (LLAP) For the Period Ended June 30, 2021 Variance explanation The variances are due largely technical glitches regarding payments for Consultants for Organizational Management, Critical Regulations and for the balance payment for the renovation of the LLA Offices. Additionally, capacity development of staff which includes a sizable portion of this component is spanned over a longer period. Payment regarding capacity building at the Forestry Training Institute (FTI), Bluecrest and Upscaling Awareness activities on the Land Rights Acts is still pending. Some of the activities including CORS Station and networking of the LLA Headquarter is still pending. Procurement of the Primary Geodetic Network, GNSS network, and land use inventory are still pending. The notes on pages 10 to 14 are integral part of these project financial reports 8 Promoting Accountability of Public Resources Auditor General's Report on the Financial Statement Audit of the Liberia Land Administration Project (LLAP) For the Period Ended June 30, 2021 The notes on pages 10 to 14 are integral part of these project financial reports 9 Promoting Accountability of Public Resources Auditor General's Report on the Financial Statement Audit of the Liberia Land Administration Project (LLAP) For the Period Ended June 30, 2021 10 Promoting Accountability of Public Resources Auditor General's Report on the Financial Statement Audit of the Liberia Land Administration Project (LLAP) For the Period Ended June 30, 2021 11 Promoting Accountability of Public Resources Auditor General's Report on the Financial Statement Audit of the Liberia Land Administration Project (LLAP) For the Period Ended June 30, 2021 12 Promoting Accountability of Public Resources Auditor General's Report on the Financial Statement Audit of the Liberia Land Administration Project (LLAP) For the Period Ended June 30, 2021 13 Promoting Accountability of Public Resources Auditor General's Report on the Financial Statement Audit of the Liberia Land Administration Project (LLAP) For the Period Ended June 30, 2021 14 Promoting Accountability of Public Resources