Executive Summary
Results of Operations
The University of Goroka recorded a K3.7m in net profits in 2015, an improvement from a net deficit of K1.4m in the preceding year. This had been inclined to a general increase (13%) in revenue and cost reductions in the Administration, Utilities and Personnel Emolument expenditures.
Expansion/Development programs
The University, through its operational working groups, have been set to achieve certain objectives and mandated responsibilities all pointed to the development and expansion. The University aspires to maintain fully functional divisions to better achieve set targets and goals.
The University, through its operational working groups, have been set to achieve certain objectives and mandated responsibilities all pointed to the development and expansion. The University aspires to maintain fully functional divisions to better achieve set targets and goals.
Audit Scope and Nature
Audit Scope
The audit was conducted in accordance with the International Standards on Auditing and the promulgated best business practices.
Nature of audit
The engagement is an assurance audit engagement in compliance with the Audit Act, 1989 (as amended) and Public Finances (Management) Act, 1995.
Period of reporting
The period of reporting covers for the financial year ended 31 December 2016 from which the audit had been in arrears and completed and issued in the 2018/2019 Audit Cycle.
Results of Audit
Audit Opinion
The Audit report in accordance with the provisions of the Audit Act, 1989 (as amended) on the financial Statements of the University for the year ended 31 December 2015 was issued on 21 September 2018. The report contained a Disclaimer of Opinion.