Court Auditors report: Several ministries involved in financial mismanagement (Part II)

The judges of the Court of Auditors have dwelt in their report on the irregularities in the management of the special funds’ treasury whose numbers has surpassed 60 scattered on various ministries.

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• These funds whose value is estimated at 1450 billion Algerian Dinars are mismanaged since some accounts are not bound to the required specifications, thus escape to any form of control.
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• The report has indicated that these accounts should abide by a clear working schedule elaborated by the managers of the sector and determine the prospects as well as the objectives jointly with the finance minister.
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• The investigations carried out by the judges on a number of these special funds has revealed several irregularities, among those, the fund for imports’ supervision whose account is lodged at the Algerian Central Bank with a value of nearly $ 60 billion, suffers a lack of transparency in its management because the Auditing Committee didn’t receive a detailed assessment over its different operations.
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• But the sternest criticism made by the Auditing Committee concerns the financial operations carried out by the public companies’ liquidation fund, which is regarded as the oldest special fund, since its creation dates back to 1993. The Committee has observed that this fund has taken years to liquidate bankrupt public companies for inexplicable reasons as well as the lack of coordination between the liquidators and the auditors.
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• The report has dwelt on the funds put under the supervision of the agriculture ministry more specifically the fund for the agriculture development where the Committee had to intervene in the wake of a series of financial scandals that shook this fund.
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• The report has revealed that this organism has neither skilled managers, nor an internal audit that could control the transactions.
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