Office of the Special Sector Audit Wing Constitution Avenue Islamabad No.SSAW/FAP/Federal/F-13/ / 9 7 Dated: 23 -02-2017 To, 1. The Secretary Economic Affairs Division, Government of Pakistan Pak Secretariat Block-C Islamabad 2. The Country Director, World Bank, Resident Mission 20A, Shahrah-e-Jamhuriat G-5/1, Islamabad Subject:- FOREIGN AIDED PROJECTS (FAPs) AUDIT REPORTS Financial Attest Audit of the following FAP Audit Report has been conducted by this office: S.No Name of Projects Loan No/Agreement No Executing Agency I FATA Rural Livelihood & TF-l 1857-PK FATA Community Infrastructure 2 FATA Urban Centers Project TF-01 2160-PK FATA 2. Financial Attest Audit Reports of the above projects together with the management letter (ML) are hereby issued simultaneously to the Government (EAD) and to the World Bank Resident Mission Islamabad through EAD. 3. The Director General Audit concerned is also being requested to issue a copy of the above mentioned FAP Audit Report to the concerned Project Manager as well Enclosure: As above Muhammad Tahir Kamal Deputy Auditor General Cc: i. DG Audit Federal Government Islamabad, with the request to issue a copy of the above reports to the project management for their further necessary action. ii. SPS to DAG FAO iii. Master File Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized
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I Auditor's Report on the "FATA Urban Centers Project" Financial Statements
We have audited the accompanying financial statements of the FATA Urban Centers Projectunder the Planning and Development Department, FATA Grant Agreement No. TF 012150 PKthat comprises Statement of Receipts and Payments together with the Notes forming part thereoffor the year ended 3 0 'h June, 2016.
Management Responsibility
It is the responsibility of the project management to establish and maintain a system of internalI controls, and prepare and present the Statement of Receipts and Payments in conformity with therequirements of Cash Basis IPSAS Financial Reporting under the Cash Basis of AccountingStandard.
Auditor's Responsibility
The responsibility of the auditor is to express an opinion on the financial statements based on theE audit conducted. We conducted our audit in accordance with the International Standards ofSupreme Audit Institutions. These standards require that we plan and perform the audit to obtainreasonable assurance whether the financial statements are free of material misstatements. TheI audit process includes examining, on a test basis, evidence supporting the amounts anddisclosures in the financial statements. It also includes assessing the accounting principles usedand significant estimates made by the management, as well as evaluating the overall statementE presentation. We believe that our audit provides a reasonable basis for our opinion.
Opinion
In our opinion:
a) The financial statements present fairly, in all material respects, the cash receipts and
payments by the project for the year ended 30"' June, 2016 in accordance with Cash Basis
IPSAS Financial Reporting under the Cash Basis of Accounting Standard.
b) The expenditures have not been incurred in accordance with the requirements of legalagree nt(N--
(MUHAMMA A AL GONDAL)Director G ne alDirectorate eral Audit (Federal Government),Benevolent Fund Building, Zero Point, Islamabad
Dated: /6.02.2017
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I
IIIIUIII
FATA URBAN CENTERS PROJECT
IFinancial Statements
UI FOR THE YEAR ENDED 30TH, JUNE 2016
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IFATA URBAN CENTERS PROJECT
Statement of Cash Receipts and PaymentsFor the year enWJanuary 31st, 2016
Note 2015-16 2014-15
Receipts(Payments) Payment by Third Receipts(Payments) Payment by ThirdControlled by Project Parties Controlled by Project Parties