Public Accounts Unit Quality review Checklist for FY 2013/2014
Name of the institution:.................................................................................................................................
PAU Team member responsible:................................................ Date report submitted: ............................................... Month being reported:........................................
Ref
no.
Quality review areas
1
The financial statements signed by the CBM/Project Coordinator have been
submitted on time.
For projects, check if the full name is indicated on the template
2
3
4.
4.1
4.2
Descriptive note (E g. The report was submitted
within statutory deadline)
RES and FP and CF have been provided, tie to the system (check the system and
confirm). Note any anomaly.
Review of Trial Balance
The institution has provided a trial balance from IFMIS or other systems in use
that tie to the financial statements. Perform arithmetic check to ensure that FS is
populated from TB
Review the trial balance and note any issues such as:
(i) Expense balances on credit side;
(ii) Revenue balances on debit side;
(iii) Accounts payables balances on debit side; or
(iv) Accounts receivable balances on credit side.
4.3
4.4
5
6
7
8
Review the Trial Balance and ensure that bank and cash account balances tie to
cashbook balances and to reconciliation statement.
Review the Trial Balance to ensure that all account balances tie to GL balances.
The report is in the Standard Reporting Template issued during the year.
Petty cash balance on the cash book, and trial balance equal to the amount on the
cash count certificate.
Check if there is any increase or decrease in number of bank accounts held by the
entity and enquire reasons for particularly for decrease.
All cashbooks are supported by a bank reconciliation statement.
List here the names of bank accounts not reconciled
Action (E.g
Quality review
feedback)
Ref
no.
Quality review areas
No. of bank accounts for entity (A)
No. of bank reconciliation statements (B)
No. of banks not reconciled (A) - (B)
9
Review all the bank reconciliation statement along the following:
9.1
Are there long outstanding items (Cheques older than 2 months)? A breakdown of
the outstanding deposits and payments should be attached to the report.
9.2
Confirm accuracy of deposits in transit and outstanding payments by analysing the
transaction description and Check if the outstanding deposits and payments are not
a result of reversals.
Obtain the breakdown of the deposits in transit and outstanding payments.
9.3
Are there Un-reconciled differences on the bank reconciliation statement? (Where
the cause is bank error, ensure that it is well disclosed on the reconciliation report
or there is a separate explanation for the difference. A detailed breakdown or
explanation should be provided i.e amount and date when the error was noted,
cheque or OP number and why it is deemed as an error)
Compare the bank statement closing balance and determine whether the correct
bank statement balances are used on bank reconciliations?
For foreign currency bank accounts, check if the local currency amounts in Trial
Balance tie to the foreign currency in cashbook. Check if the exchange rate used
is correct using the spot rate as quoted by central bank.
Check if opening balances (Comparatives) reported by entities match with those
used in the FY 2012/13 consolidation.
Check that the comparatives for all items of RES and FP tie to those consolidated
during FY 2012/13.
If the entity was allowed to adjust the consolidated financial report for FY
2012/13, ensure that the report clearly provide the movement in opening by
showing what was the closing balance, adjustments and adjusted balances for each
category of balances (Bank and cash, receivables and payables). Also ensure that
these changes result from audit recommendations and inquire if memo authorising
adjustments and journals are well kept for future reference.
9.4
9.5
10
11
Descriptive note (E g. The report was submitted
within statutory deadline)
Name of bank account and
account number
Month
last
reconciled
Action (E.g
Quality review
feedback)
Ref
no.
Quality review areas
12
Opening balance adjustment has been supported by authorisation Journals or
memo signed by CBM.
Ensure that the transfers and direct payments from OTR reconciled for the
institution. (Obtain Central Treasury GL for the period).
Compare the Inter-entity accounts breakdown and verified with the corresponding focal person if the corresponding
recipient/transferring institution has recorded the same.
13
14
Descriptive note (E g. The report was submitted
within statutory deadline)
List here entities where the inter-entity transfers do no tie
Name of Giving entity
Amount
(Entity)
1
2
3
Name of receiving entity
1
2
3
15
Analysis of funds received from donors is provided on the notes to FS.
16
Donor, date, amount, forex exchange rate and amount in RWF are included. Full
names of donors must be indicated
Payables and receivables detailed list is provided.
17
18
Ensure that the breakdown does not include “Others” or “Note a LOT” or
“Supplier control” or “Transit Fund” or Returned payment. These should be
further broken down. Transit accounts should also have a breakdown.
Check if the notes to the financial statements are accurate and tie to the main
financial statements.
For projects, check if loans and grants are reported separately in the financial
statements.
Amount (corresponding
Giving/Receiving entity)
Difference
Action (E.g
Quality review
feedback)
Ref
no.
Quality review areas
Check to ensure that the report doesn't contain the following items:
19









Salaries in Kind
Grants to foreign government and international organisations
Arrears for districts
General or sector Budget Supports
Proceeds from Loan Borrowing – Except Projects, EWSA and IPRC
Kicukiro
Repayment of Loan Borrowing – Districts should record loans as payables
Subsidies to Public Corporations
Transfers from Treasury – for projects
Inter government payables should not include RRA
20
Review of Budget Performance
20.1
Confirm if budget performance statement has been included in the report
20.2
Confirm if figures included in the budget performance report are the same as these
contained in IFMIS budget execution or performance report
Check if the budget performance balances tie to RES category total
Check if total initial and revised revenues budget is equivalent to total initial and
revised expenditure budget
20.3
20.4
21
Check if the revised budget reported in Financial report matches with
district council decision/Finance Law. If there is any discrepancy,
explanatory note should be provided
22
Review the OAG report for the previous year and assess whether audit
recommendations that require adjusting the financial statements have been
captured.
23
Ensure that the Bank and cash balances, omitted payables and receivables for FY
2012/13 are captured as adjustments and have properly been accounted at the
time of payment or receipt
Ensure that the consular fees and VAT refunds for Embassies have been recorded
as Transit funds with RRA and Treasury respectively.
Descriptive note (E g. The report was submitted
within statutory deadline)
Action (E.g
Quality review
feedback)
Ref
no.
Quality review areas
24
Check if the detailed note of adjustments was provided and ties to the main note
and financial statements and judge its accuracy. Also express the need to have
adjusting journals and authorising memo as supporting documents of the adjusted
transactions.
For a given creditor / debtor where the previous balance is still the same as this
year, inquire whether this was not paid and if yes ask the reason and document it.
Review of cash flow statement
Check if cash and cash equivalent at the beginning of the year is the same as that
of at the end of last Financial Year
Check if balances included in different categories of cash flow statement ties with
these contained in the statement of revenues and expenditure
Check if cash and cash equivalent during the year ties to total of bank plus cash
balances for the period.
Confirm the accuracy of changes in payables, receivables and adjustments for the
year.
Check if the financial statements from Districts include summary of financial
information from NBAs and perform arithmetic check to confirm if each category
is balancing.
For the case of districts, generate the revenue accountability report and check if
totals are equivalent to these of Trial Balance.
Check if the reconciliation statement between District and RRA is attached to the
report
Other issues noted but not listed above : document here.
25
26
27.1
27.2
27.3
27.4
28
29
30
31
Descriptive note (E g. The report was submitted
within statutory deadline)
Action (E.g
Quality review
feedback)
Focal person to rank the quality of the reviewed report:
Ranking
Criteria
Tick as appropriate
Satisfactory
No issue has been noted as per above criteria
Acceptable
Few issues noted ( between 1 to 5 issues were noted out of 35 QR areas above)
Poor
Many issues noted ( between 5 to 15 issues were noted out of 35 QR areas above)
Unacceptable Too many issues noted (over 15 issues noted out of 35 QR areas above)
Note: Attach a printed copy of the EMAIL feedback to this QR checklist.
Quality review done by:
Name: ..................................................................
Date: ........................................................Signature ……………………….
Second review by:
Name: ----------------------------------------------------
Date: --------------------------------------------Signature …………………………
Third review done by:
Name: ............................................................................. Date: ........................................................Signature ……………………………..