Mogadishu — Somalia's Auditor General Ahmed Isse Gutale met Favori LLC Somalia representative Mustafa Durgut to discuss the company’s financial statements.
The talks focused on ensuring the revenue from Aden Abdulle International Airport is recorded transparently, and that the company implements audit recommendations related to revenue management and the annual auditing of its financial statements.
The meeting addressed the need for the company to fully implement the revenue-sharing agreement it has with the Federal Government of Somalia and ensure its financial statements undergo independent audit before submission to relevant government authorities.
Audit reports from recent years have repeatedly raised concerns about how to verify government revenue generated from revenue-sharing agreements. The Office of the Auditor General has stated that without audited financial statements, it becomes difficult to independently confirm whether the government’s share has been calculated accurately.