Annual Report 2004/05 - Special Investigating Unit

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ANNUAL REPORT 2004/05 NOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2005 2004/05 R 2003/04 R 14. NOTES TO THE CASH FLOW STATEMENT 14.1 Reconciliation of profit/(loss) to cash generated from operations Operating profi t/(loss) 4 169 546 (1 288 362) Adjustments for: Depreciation 1 790 566 1 782 822 Interest received (300 513) (335 825) Surplus on sale of moveable property and equipment - (53 456) Operating profi t before working capital changes 5 659 599 105 179 Decrease/(increase) in inventory 4 704 (3 888) (Increase)/decrease in trade receivables (3 679 284) 1 138 167 (Increase)/decrease in pre-payments (25 024) 46 689 Increase in trade payables 1 451 283 262 970 Increase in revenue received in advance 19 350 000 50 000 17 101 679 1 493 938 Cash generated from operations 22 761 278 1 599 117 14.2 Cash and cash equivalents Bank balances 20 705 325 497 953 15. FINANCIAL INSTRUMENTS Risks Credit Risk Financial assets that could subject the Unit to credit risk consist principally of cash at bank and cash equivalents, deposits and accounts receivable. The Unit’s cash equivalents are placed with high credit quality financial institutions. Interest Rate Risk The cash fl ow is not signifi cantly affected by fl uctuations in interest rates. All cash is placed with reputable financial institutions. Fair Values The carrying amount of cash and cash equivalents, deposits, accounts receivable and accounts payable approximated their fair values due to the short-term maturities of those assets and liabilities. 46
REPORT OF THE AUDITOR-GENERAL REPORT OF THE AUDITOR-GENERAL TO PARLIAMENT ON THE ACHIEVEMENTS BY THE SPECIAL INVESTIGATING UNIT FOR THE YEAR ENDED 31 MARCH 2005 1. AUDIT ASSIGNMENT The schedules of achievement as set out on pages 48 to 49 for the year ended 31 March 2005 have been audited following the agreement with the Department of Justice and Constitutional Development and the Head of the Special Investigating Unit. These schedules are the responsibility of the Head of the Unit. It is my responsibility to express an opinion on these schedules of achievement based on my audit. 2. NATURE AND SCOPE The audit was conducted in accordance with Statements of Generally Accepted Auditing Standards. Those standards require I plan and perform the audit to obtain reasonable assurance that the schedules of achievement are free of material misstatement. An audit includes: 3. AUDIT OPINION In my opinion, the schedules of achievement fairly presents, in all material respects, the achievements in respect of completed investigations and recoveries of the Special Investigating Unit for the year ended 31 March 2005 in accordance with the agreed reporting framework. 4. APPRECIATION The assistance rendered by the management and staff of the Unit during the audit are sincerely appreciated. • examining, on a test basis, evidence supporting the amounts and disclosures included in the schedules of achievement; • assessing the accounting principles used and signifi cant estimates made by management; • evaluating the overall presentation of the schedules of achievement. _______________________________ C Benjamin for Auditor-General Pretoria 29 July 2005 I believe that the audit provides a reasonable basis for my opinion. 47
Page 1 and 2: SPECIAL INVESTIGATING UNIT AN N UAL
Page 3 and 4: SPECIAL INVESTIGATING UNIT ANNUAL R
Page 5 and 6: TABLE OF CONTENTS List of abbreviat
Page 7 and 8: STRUCTURE OF THE SPECIAL INVESTIGAT
Page 9 and 10: INTRODUCTION The performance of the
Page 11 and 12: MESSAGE FROM THE HEAD AND DEPUT Y H
Page 13 and 14: NATIONAL INVESTIGATIONS OVERVIEW OF
Page 15 and 16: NATIONAL INVESTIGATIONS Fraudulent
Page 17 and 18: NATIONAL INVESTIGATIONS DEPARTMENT
Page 19 and 20: NATIONAL INVESTIGATIONS • investi
Page 21 and 22: REGIONAL INVESTIGATIONS The SIU has
Page 23 and 24: REGIONAL INVESTIGATIONS had the maj
Page 25 and 26: REGIONAL INVESTIGATIONS • the ref
Page 27 and 28: REGIONAL INVESTIGATIONS Mr. Martin
Page 29 and 30: CORPORATE SERVICES 5(2)(b) of the s
Page 31 and 32: CORPORATE SERVICES Training and Enh
Page 33 and 34: CORPORATE SERVICES Mr. Brian Amery:
Page 35 and 36: FINANCIAL REPORTS - TABLE OF CONTEN
Page 37 and 38: REPORT OF THE AUDITOR-GENERAL REPOR
Page 39 and 40: SPECIAL INVESTIGATING UNIT APPROVAL
Page 41 and 42: INCOME STATEMENT for the year ended
Page 43 and 44: CASH FLOW STATEMENT for the year en
Page 45 and 46: SUMMARY OF ACCOUNTING POLICIES for
Page 47 and 48: NOTES TO THE ANNUAL FINANCIAL STATE
Page 49 and 50: NOTES TO THE ANNUAL FINANCIAL STATE
Page 51: NOTES TO THE ANNUAL FINANCIAL STATE
Page 55 and 56: SUMMARY REPORT: SCHEDULE B ANALYSIS
Page 57 and 58: SPECIAL INVESTIGATING UNIT ACCOUNTI
Page 60: against corruption Special Investig

Annual Report 2004/05 - Special Investigating Unit

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