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REPORT Auditor-General

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REPORT Auditor-General ZIMBABWE REPORT of the Auditor-General for the FINANCIAL YEAR ENDED DECEMBER 31, 2014 __________________________________________ NARRATIVE REPORT ON STATE ENTERPRISES AND PARASTATALS ______________________________________________________ ZIMBABWE Office of the Auditor-General of Zimbabwe 5th Floor, Burroughs House 48 George Silundika Avenue Harare, Zimbabwe The Hon. P. Chinamasa Minister of Finance and Economic Development New Government Complex Samora Machel Avenue Harare Dear Sir, I hereby submit my Report on the audit of State Enterprises and Parastatals in terms of Section 309(2) of the Constitution of Zimbabwe read together with Section 10(1) of the Audit Office Act [Chapter 22:18], for the year ended December 31, 2014. Yours faithfully, M. CHIRI, AUDITOR-GENERAL. HARARE ………………, 2015 ZIMBABWE OAG Vision To be the Centre of Excellence in the provision of Auditing Services. OAG Mission To examine, audit and report to Parliament on the management of public resources of Zimbabwe through committed and motivated staff with the aim of improving accountability and good corporate governance. OAG Core Values COMMITMENT Self-driven, promise keeping to foster mastery in customer service delivery RESPECT thereby leaving a legacy of being Accepting mutual and visionaries. reciprocal individuals' self-esteem, diversity INTEGRITY of view and need for recognition and Being transparent, acknowledgement of trustworthy and fair ACCOUNTABILIT in order to guarantee the office structures, Y processes and professionalism and authority. Responsibility of goal congruence in giving assurance on our daily conduct. the effective use of public resources and answerable for individual actions. EMPATHY TEAMWORK Empathetic support and Results-oriented encouragement contribution each within the OAG one of us makes family. through inspiration, creativity, chemistry and effectiveness. LIST OF ACRONYMS 1. CAAZ – Civil Aviation Authority of Zimbabwe 2. CBZ - Commercial Bank of Zimbabwe 3. EIA – Environmental Impact Assessment 4. FCR – Foreign Currency Reserve 5. GRN – Goods Received Note 6. IFRS – International Financial Reporting Standards 7. JV – Joint Venture 8. MMCZ – Minerals Marketing Corporation of Zimbabwe 9. NRZ – National Railways of Zimbabwe 10. NSSA – National Social Security Authority 11. OAG – Office of the Auditor-General 12. PAYE – Pay As You Earn 13. POSB – People’s Own Savings Bank 14. POTRAZ – Postal Telecommunication Regulatory Authority of Zimbabwe 15. PSIP – Public Sector Investment Programmes 16. RBZ – Reserve Bank of Zimbabwe 17. RTGS - Real Time Gross Settlement 18. S.H.E – Safety Health and Environment 19. SBU – Strategic Business Unit 20. SEDCO – Small and Medium Enterprises Development Corporation 21. SMEs – Small to Medium Enterprises 22. SPB – State Procurement Board 23. SSB – Salary Service Bureau 24. TIMB – Tobacco Industry Marketing Board 25. VAT – Value Added Tax 26. ZIA – Zimbabwe Investment Authority 27. ZIMDEF – Zimbabwe Manpower Development Fund 28. ZIMPOST – Zimbabwe Posts 29. ZIMRA – Zimbabwe Revenue Authority 30. ZINARA – Zimbabwe National Roads Administration 31. ZMDC – Zimbabwe Mining Development Corporation Table of Contents EXECUTIVE SUMMARY .......................................................................................................... ii PUBLIC ENTITIES UNDER THE CATEGORY OF AUTHORITIES AND AGENCIES. .1 CIVIL AVIATION AUTHORITYOF ZIMBABWE (CAAZ) 2013...............................................2 ENVIRONMENTAL MANAGEMENT AGENCY (2013) ............................................................9 NATIONAL BIOTECHNOLOGY AUTHORITY 2010- 2012 ....................................................13 NATIONAL SOCIAL SECURITY AUTHORITY (NSSA) .........................................................20 RADIATION PROTECTION AUTHORITY OF ZIMBABWE ..................................................32 ZIMBABWE NATIONAL ROAD ADMINISTRATION (ZINARA) 2012 & 2013 ...................35 ZIMBABWE REVENUE AUTHORITY (ZIMRA) & ITS SUBSIDIARY .................................54 PUBLIC ENTITIES UNDER THE CATEGORY OF BOARDS ...........................................76 GRAIN MARKETING BOARD (GMB) ......................................................................................77 HEALTH SERVICE BOARD (HSB) 2014 ..................................................................................83 PUBLIC ENTITIES UNDER THE CATEGORY OF COMMISSIONS ...............................86 ANTI-CORRUPTION COMMISSION OF ZIMBABWE 2010 ...................................................87 SECURITIES AND EXCHANGE COMMISSION OF ZIMBABWE AND THE INVESTOR PROTECTION FUND ...................................................................................................................96 PUBLIC ENTITIES UNDER THE CATEGORY OF COMPANIES, CORPORATIONS AND OTHER ...............................................................................................................................99 MARANGE RESOURCES (PRIVATE) LIMITED ...................................................................100 NATIONAL RAILWAYS OF ZIMBABWE (NRZ) ..................................................................108 PETROTRADE (PRIVATE) LIMITED......................................................................................113 POWERTEL COMMUNICATIONS (PRIVATE) LIMITED ....................................................115 ZESA ENTERPRISES (PRIVATE) LIMITED (ZENT) .............................................................120 ZIMBABWE ACADEMIC AND RESEARCH NETWORK (ZARNet) (PRIVATE) LIMITED: 2011- 2013 ...................................................................................................................................128 ZIMBABWE MINING DEVELOPMENT CORPORATION (ZMDC) AND ITS SUBSIDIARIES 2013 .................................................................................................................135 PUBLIC ENTITIES UNDER THE CATEGORY OF COUNCILS .....................................158 NATIONAL AIDS COUNCIL (NAC) 2013 ...............................................................................159 NATIONAL ARTS COUNCIL OF ZIMBABWE (NACZ) 2013 ..............................................165 ZIMBABWE NATIONAL FAMILY PLANNING COUNCIL (ZNFPC) .................................168 ZIMBABWE SCHOOL EXAMINATIONS COUNCIL (ZIMSEC) 2013 .................................172 PUBLIC ENTITIES UNDER THE CATEGORY OF FINANCIAL INSTITUTIONS ......175 INFRASTRUCTURE DEVELOPMENT BANK OF ZIMBABWE (IDBZ) .............................176 PEOPLE’S OWN SAVINGS BANK (POSB) ............................................................................180 SMALL ENTERPRISES DEVELOPMENT CORPORATION (SEDCO) 2013 .......................185 PUBLIC ENTITIES UNDER THE CATEGORY OF STATE HOSPITALS .....................190 INGUTSHENI CENTRAL HOSPITAL 2013.............................................................................191 PARIRENYATWA GROUP OF HOSPITALS 2013 .................................................................196 UNITED BULAWAYO HOSPITALS 2013 ...............................................................................199 PUBLIC ENTITIES UNDER THE CATEGORY OF UNIVERSITIES AND TERTIARY INSTITUTIONS .........................................................................................................................207 ZIMBABWE OPEN UNIVERSITY (ZOU) 2011 ......................................................................208 ANNEXURES .............................................................................................................................214 EXECUTIVE SUMMARY Audit mandate My duties as set out in the Constitution of Zimbabwe and amplified in the Audit Office Act [Chapter 22:18] are, in addition to examining, auditing and reporting on accounts of all persons entrusted with public monies or state property, to audit all institutions and agencies of government, and at the request of government carry out special audits of the accounts of any statutory body or government controlled entity. Audit approach I conducted my audit in accordance with the International Standards on Supreme Audit Institutions (ISSAIs) and the International Standards on Auditing (ISAs). Those Standards require that I comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. My audit approach was designed to enable me to express an opinion on the State Enterprises and Parastatals’ financial statements. All aspects of the entities’ activities and procedures may not have been examined. I consider maintenance of adequate internal controls to be the responsibility of management. My work cannot therefore, be expected to identify all weaknesses in the systems and procedures, which a special investigation directed at those areas might reveal. As to the possibility of fraud, I plan my audit to have a reasonable expectation of its disclosure if the potential effects of the fraud would be material in the financial statements. However, there are many kinds of fraudulent activities, particularly those involving defalcation, forgery, collusion and management override of controls, which would be unreasonable to expect the normal audit to uncover. The principal objective of my audit procedures is to enable me to express an opinion on the truth and fairness of the financial statements as a whole. An audit opinion is based on the concept of reasonable assurance. It is not a guarantee that the financial statements are free of misstatements. Financial reporting framework
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