Audit Reveals Inconsistencies at Haramaya University

Dec 28 , 2019


The financial audit report conducted on Haramaya University revealed a nearly 25-million-Br audit gap due to uncollected income tax revenues and unsettled payments over ten years. The audit report was presented to the Public Expenditure Administration & Regulation standing committee of the parliament last Wednesday. The gap was found unaccounted for as a result of the unauthorised procurement of medicine, uncollected income tax payments for guest lecturers, over expenditures and inflated overtime payments for security guards, as well as uncollected revenues and unsettled payments. The audit also revealed that nearly 1.6 billion Br was spent for construction of a new building, which was not properly registered as the permanent property of the University.


Radar

Addis Chamber Embarks on Leadership Forum

A leadership forum where prominent executives will share their experiences in the business environment is organised by the Addis Abeba Chamber of Commerce & Sectoral Association (Addis Chamber) and SAK Training & Consultancy Firm. Headlining Arega Yirdaw (PhD), president of Unity University, who is expected to address the fortunes and adversities of the leadership ecosystem and share insights into his cascade of experiences, the first round is expected to set off at the Inter-luxury H...


Radar

Wegagen Bank Launches its Mobile App

Embracing the digital realm, Wegagen Bank officially launched its mobile banking application last week. The App was inaugurated in Dire Dewa City, with Yehwalashet Zewdu, vice president of the Bank Enterprise Services, showcasing its service that provides secure and seamless financial services. According to Yehwalashet, Wegagen Mobile meets the evolving needs of its clientele in Amharic, English, Afan Oromo, Tigrigna and Somali languages. Incorporated in 1997, Wegagen Bank has grown to become...


Radar

Zemen Bank Joins IFC's Trade Finance Program with $30m Boost

Zemen Bank has secured a 30 million dollar trade finance guarantee from the International Finance Corporation (IFC) to boost the trade finance operations. A member of the World Bank Group, IFC has welcomed Zemen as the newest member of its Global Trade Finance Program aimed at supporting exports and imports. Signed by Dereje Zenebe, president of Zemen Bank and Madalo Minofu, country manager of IFC, the trade financing is part of the one-billion-dollar Africa Trade & Supply Chain Finance P...


Back
WhatsApp
Telegram
Email