Auditor General Identifies 7.4b Br in Overdue Accounts Recievable


Auditor General Identifies 7.4b Br in Overdue Accounts Recievable

The Federal Auditor General, which has audited 117 federal offices and 35 branch offices, has identified 7.4 billion Br worth of overdue accounts receivable from the 2019/20 fiscal year. Some 90 offices were found to be guilty of the mishap with just four government institutions responsible for over half of the amount. The National Disaster Risk Management Commission has 1.9 billion Br in overdue accounts receivable, 1.5 billion Br from the Ministry of Health, the Ministry of Innovation & Technology has 614 million, and the Ministry of Science & Higher Education is sitting on 402 million Br. In addition, three offices were found to have uncollected advance payments from contractors amounting to 106.7 million Br. The auditor's report added that federal offices have 2.4 billion Br in unsettled collectable amounts that have remained outstanding for between one and five years; and 1.02 billion Br from five to ten years. The report states that the accumulation of these uncollected incomes would further tighten the chances of finalising collection. It advises the federal offices to collect receivables and settle them according to the law.

[ssba-buttons]

Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...


Radar

Export Recovery Gains Ground, Industry Still Lags Potential

The Ministry of Industry (MoI) has reported a modest rebound in Ethiopia's manufacturing exports, with revenues climbing eight percent in the 2025 fiscal year to reach 318 million dollars. Minister Melaku Alebel attributed the growth to a gradual sectoral recovery but acknowledged the figures remain well below the country's industrial potential. Speaking at a forum held with 60 top-performing manufacturers, Melaku said the ministry is working to unlock bottlenecks and improve coordination. Th...