The US-based multinational Deloitte & Touche LLP has given Somalia’s Central Bank a clean bill of health in a first following an audit of the bank’s 2020 Financial Statements.
The Central Bank of Somalia (CBC) said in a statement the US multination had issued it with a ‘draft clean opinion’ following an audit of the FY2020 Financial Statement Audit.
“This result indicates that no material misstatements or errors were identified during the audit,” CBC said noting this was the first time the bank has received such opinion on its annual financial statements.’
“The CBS staff, Minister of Finance, other government officials, and other stakeholders including the World Bank and IMF should be proud of these accomplishments and should have the full confidence that the bank’s financial operations has not declined despite the pandemic, and revenue shortfall,” CBC said in a statement.
CCB was re-established in 2009 following its closure as a result of the civil war in the early 1990s.