F) AUDITORS' REPORT ON THE DESIGNATED FINANCIAL IJ STATEMENTS OF 1 I STATISTICS FOR RESULT PROJECT : UNDER CENTRAL STATISTICAL AGENCY (GRANT NO.TF017115) AS AT AND FOR THE YEAR ENDED 7th JULY 2018 TAY & Co. Chartered Certified Accountants & Authorized Auditors Addis Ababa, Ethiopia Tel. 251-11-442-1336 Fax 251-11-442-1338 E-mail: tayco(@ethionet.et P.O.Box 1335 Addis Ababa, Ethiopia Ethio-china Friendship Street Wongelawit Tadesse Building 1st Floor Website: www.tayauditing.com 6A.xtar Uri , 4Accou ntom1F A-t4tAw'rize4 A-w 4itmls INDEPENDENT AUDITOR'S REPORT ON THE DESIGNATED FINANCIAL STATEMENTS OF STATISTICS FOR RESULT PROJECT UNDER CENTRAL STATISTICAL AGENCY (GRANT NO.TF017115) Opinion We have audited the accompanying special accounts of Statistics for Result project (Grant No. TF017115) under Central Statistical Agency, for year ended 7 July 2018. In our opinion, the special accounts present fairly, in all material respects, the financial position of the Statistics for Result Project (Grant No. TF017115) under Central Statistics Agency as at 07 July 2018 and the movement for the year then ended in accordance with the accounting policy of the Project. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs). 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 Project in accordance with the International Ethics Standards Board for Accountants' code of Ethics for Professional Accounts (IESBA Code) together with the ethical requirmets that are relevant to our audit of the financil statmetns in Ethiopia, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Responsibilities of the Management for the Project Report The management is responsible for the preparation and fair presentation of the financial statements in accordance with the accounting policies of the Project, and for such internal control as management determines is necessary to enable the preparation of a project report that is free from material misstatement, whether due to fraud or error. 1 *1 Ethio-China Friendship Street, Wengelawit Tadesse Building 1st Floor Tel. (011) 442 1336, 442 0062, (011) 470 7092,(011) 470 7094 - Mob. (093) 001.4106, (091) 151 5038139 Fax (011) 442 1338 - e-mail: tayco@ethionet.et - www.tayauditing.com - P.O. Box 1335 - Addis Ababa, Ethiopia Auditor's Responsibility for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the project report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The engagement the audit resulting in this independent auditor's report is Tesfa Tadesse. AC TAY & C 0 2133 Addis Ababa Chartered le n & 19 December 2018 Authorized A br8F A tio 2 STATISTICS FOR RESULT PROJECT (GRANT NO. TF017115) STATEMENT OF DESIGNATED ACCOUNTS FOR THE YEAR ENDED 7 JULY 2018 Account number: 10045130020 Depository bank National Bank of Ethiopia Related Credit and Grant: IDA Credit TF017115ET Address : Addis Ababa, Ethiopia Currency USD 2017 Initial Balance 452,435.74 497,288.13 Add: Transferred from World Bank Credit 3,475,146.88 3,768,240.31 3,927,582.62 4,265,528.44 Less: Transfer to pool Birr account 3,250,000.00 3,208,072.99 Expenditure during the year 623,694.15 605,019.71 3,873,694.15 3,813,092.70 Ending Balance 53,888.47 452,435.74 A&pccou,% 011 4707094 011442133 ed 3) 3 F F,STATEMENTS OF r STATISTICS FOR RESULT PROJECT" I sp U UNDER CENTRAL STATISTICAL AGENCY , F1 (GRANT NO.TF017115) Id1) V SAUAS AT AND FOR THE YEAR ENDED 7t JULY 2018 TAY & Co. Chartered Certified Accountants & Authorized Auditors Addis Ababa, Ethiopia ~Tel. 251-11-442-1336 Fax 251-11-442-1338 E-mail: tavcooethionet.et P.O.Box 1335 Addis Ababa, Ethiopia Ethio-china Friendship Street Wongelawit Tadesse Building 1 st Floor a Website: www.tavauditin&.com 3I I 6kotre,4 Urtif ofe14(1H Wr -1tfru7rza A4 4itP"5 INDEPENDENT AUDITOR'S REPORT ON THE FINANCIAL STATEMENTS OF STATISTICS FOR RESULT PROJECT UNDER CENTRAL STATISTICAL AGENCY (GRANT NO.TF017115) Opinion We have audited the financial statements of Statistics for Result project (Grant No. TF017115) under Central Statistical Agency, which comprise the balance sheet as at 07 July 2018, and the statement of sources and uses of funds, for the year then ended, and notes to the financial statements, including a summary of significant accounting policies. In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Statistics for Result Project (Grant No. TF0 17115) under Central Statistics Agency as at 07 July 2018 and its sources and uses of funds for the year then ended in accordance with the accounting policy of the Project. In addition, with respect to statement of expenditure submitted during the year ended 07 July 2018, in our opinion a) The statements, together with the procedures and internal controls involved in their preparation, can be relied upon to support the relevant withdrawals; b) Adequate supporting documentation has been maintained to support claims to IDA for reimbursements of expenditures incurred; and c) The expenditures are eligible for financing under IDA Grant No. TF0 17115. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs). 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 Project in accordance with the International Ethics Standards Board for Accountants' code of Ethics for Professional Accounts (IESBA Code) together with the ethical requirmets that are relevant to our audit of the financil statmetns in Ethiopia, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 4id C0,1 %d A? 1 Ethio-China Friendship Street, Wengelawit Tadesse Building 1 I Floor Tel. (011) 442 1336, 442 0062, (011) 470 7092, (011) 470 7094 - Mob. (093) 001 4106, (091) 151 5038139 Fax (011) 442 1338 -e-mail: tayco@ethionet.et - www.tayauditing.com - P.O. Box 1335 - Addis Ababa, Ethiopia Responsibilities of the Management for the Project Report The management is responsible for the preparation and fair presentation of the financial statements in accordance with the accounting policies of the Project, and for such internal control as management determines is necessary to enable the preparation of a project report that is free from material misstatement, whether due to fraud or error. Auditor's Responsibility for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the project report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic dec* * s of users taken on the basis of these financial statements. The enga e audit resulting in this independent auditor's report is Tesfa Tadesse 101114707094 ,2 TAY &C Addis Ababa Chartered Ce untants & 19 December 2018 Authorized Auditors I I I I I I I * 2 I I 3 STATISTICS FOR RESULT PROJECT (GRANT NO. TF017115) BALANCE SHEET AS AT 07 JULY 2018 2017 Notes Birr Birr CURRENT ASSETS Debtors and prepayments 4 21,375,291.97 12,865,756.78 Cash and bank balances 5 7,422,366.38 14,508,189.10 28,797,658.35 27,373,945.88 I LESS: CURRENT LIABILITIES Creditors and accruals 6 2,622,357.85 4,311,411.48 I NET CURRENT ASSETS 26,175,300.50 23,062,534.40 FINANCED BY Fund balance 26,175,300.50 23,062,534.40 1 I~ I 3 Nod dit4)p I I W3 STATEMENT OF SOURCE AND USES OF FUNDS I FOR THE YEAR ENDED 07 JULY 2018 2017 SOURCES Notes Birr Birr I IDA Grant (Annex I) 87,635,905.67 84,027,762.80 Gain foreign currency exchanges 2,735,743.47 681,349.73 Other income - - 90,371,649.14 84,709,112.53 USES I Organizational and Infrastructural capacity development in the NSS 7 77,375,540.26 61,957,545.43 Statistical Data Development and I Management 8 1,003,020.13 10,445,747.98 Statistical Methodology, Standards and Data Quality Assurance and Information Dissemination 9 1,515,939.80 2,171,743.75 M & E and Project Management 10 7,364,382.55 7,836,068.16 1 87,258,882.74 82,411,105.32 EXCESS OF SOURCE OVER USES 3,112,766.40 2,298,007.21 FUND BALANCE BROUGHT FORWARD 23,062,534.10 20,764,527.19 FUND BALANCE CARRIED FORWARD 26,175,300.50 23,062,534.10 I od~ Cq,, 4 I I 3 FOR THE YEAR ENDED 07 JULY 2018 I 1.BACKGROUND I The SFR project is established under the auspices of the Central Statistical Agency to facilitate the modernization and revitalization of CSA through capacity building of its staff and its model of functioning. SFR Project is established as part of the National Statistical Development Strategy to assist the National Statistical system in capacity building and monitoring and evaluation. The SFR project is an integral part of the National Statistics Development Strategy which is I planning to fund some 80 million USD towards modernization of the CSA's organizational and data development capability and infrastructure at head quarter and selected branch offices. The target beneficiaries of the project will be both the government and thegeneral public and stake holders. The Project established based on the grant agreement entered between IDA and the Government of Ethiopia to finance the activity of the project with 10 million USD. 2. OBJECTIVE OF THE PROGRAM I General Objective of the Program The objective of the project is to contribute to more effective development policy by providing the basis for monitoring and evaluating the governments GTP and providing feedback to policy makers and citizens on the effectiveness of public policy and the use of public resource. Specific Objectives of the Program I The specific objective of the project is to enhance the capacity of the Central Statistical Agency (CSA) at the organizational, human, and physical levels in order to produce and disseminate reliable, accessible, and timely statistics. I 3. ACCOUNTING POLICIES The principal accounting policies adopted and applied consistently by the project are stated here below: basis of Accounting Accounts are prepared using Generally Accepted Accounting Principle and World Bank guidelines. Expenditures of Capital nature Expenditures of capital nature are expensed at the time of purchase. Stocks Stocks are expensed when they are purchased or aided by donors. Foreign currency Translation The financial statements are presented in Birr. Transaction of foreign currency are translated in to Birr at the approximate rate of exchange prevailing at the date of transaction. Cash balance denominated in foreign currencies are translated in to Birr exchange rate ruling at the balance sheet date. The closing rate. as at 07 July 2017 was Birr 23.1081 for one USD %dCool The reporting currency for the Program Financial Statements is Ethiopian Birr. I5 STATISTICS FOR RESULT PROJECT (GRANT NO. TF017115) NOTES TO THE FINCIAL STATEMENTS I FOR THE YEAR ENDED 07 JULY 2018 I 4. DEBTORS AND PREPAYMENT 2017 Birr Birr Advances - Trainees 212,910.00 492,433.41 Contractors 4,668,532.92 4,388,418.41 Purchase 15,395,523.65 6,975,727.18 Sundry Debtors 733,314.46 295,305.72 Consultants - 292,641.70 Letter of credit 365,010.94 421,230.36 21,375,291.97 12,865,756.78 I 5. CASH AND BANK BALANCES 2017 Birr Birr * National Bank of Ethiopia US Dollar account No. 0100451300020 (USD 53,888.47 & 2 7.2866 1,470,433.13 10,454,930.32 1 * Birr account No. 0100451040049 5,951,733.25 4,053,058.78 Contra Bank A/C 200.00 200.00 7,422,366.38 14,508,189.10 1 6. CREDITORS AND ACCRUALS 2017 Birr Birr Withholding tax - 89,050.04 Income tax - 277.52 VAT - 1,093,533.22 Pension Payable - 504.00 Sundry creditors 70,472.12 42,367.48 Payable to Dehar Al Dehar - 595,608.00 Contractors 345,483.89 Retention payable 2,551,885.73 2,144,587.33 2,622,357.85 4,311,411.48 I 6 U9 e All A u ditWr' 1・・J…．- I , I I I I ノ／ %%jx%X-XL1A "mr. Ar%Fx1xxy) NOTES TO THE FINCIAL STATEMENTS FOR THE YEAR ENDED 07 JULY 2018 7. ORGANIZATIONAL AND INFRASTRUCTURAL CAPACITY DEVELOPMENT IN THE NSS 2017 Birr Birr Goods 38,238,993.83 10,554,048.07 Training and Workshops 4,114,390.16 13,676,452.72 Consultant Service 3,446,856.68 1,099,950.92 Works 31,314,649.59 36,334,774.90 Operating 260,650.00 292,318.82 77,3752 61,957,545.43 2017 8. STATISTICAL DATA DEVELOPMENT AND MANAGEMENT Birr Goods - 5,990,442.00 Training and Workshops 262,972.13 74,372.98 Consultant Service 144,440.00 4,376,904.00 Works 595,608.00 Operating - 4,029.00 1,003,020*13 10,445,747.98 9. STATISTICAL METHODOLOGY, STANDARDS AND DATA QUALITY ASSURANCE AND INFORMATION DISSEMINATION 2017 Birr Goods 200,904.63 Training and Workshops 1,515,939.80 1,510,101.90 Consultant Service 374,837.22 Operating 85,900.00 1,515,939.80 2,171,743.75 10. M & E AND PROJECT MANAGEMENT 2017 Birr Goods 435,280.44 423,042.66 Training and Workshops - 1,984,092.86 Consultant Service 458,271.43 Operating Cost 6,929,102.11 4,970,661.21 7,364,382.55 7,836,068.16 11. 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