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Lupane State University’s finances in disarray: Auditor General’s report reveals significant concerns

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BY NOKUTHABA DLAMINI

The Office of the Auditor -General’s (OAG) report on Lupane State University’s financial statements for the year ended December 31, 2022, reveals significant concerns. The report states that the University’s financial statements are incomplete, inaccurate, and do not reflect the true financial position of the institution.

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One of the main concerns tabled before the parliament is the University’s academic fees income. “Academic fees comprise a significant part of income generated by the University from its operations,” the report notes.

However, the auditor general was not provided with all the supporting documents for the academic fees income recognized. “I was unable to perform alternative audit procedures to satisfy myself on the completeness, accuracy, and occurrence of academic fees income amount during the audit,” the report states.

“The University could not provide accurate and complete student statistics to evaluate recalculation of academic fees using numbers of active students and the authorised tuition fees for each program per semester, to assess if the academic fees income amount of ZWL$ 2.4 billion presented in the financial statements was accurate.”

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The report also highlights issues with trade receivables. “In the absence of sufficient audit evidence, the University’s records did not permit the application of alternative procedures and therefore no assurance could be obtained that the student receivables had actually existed and were accurately recorded,” the OAG writes.

Furthermore, the report notes that the University’s property, plant, and equipment valuation does not meet the fair value criteria as per International Financial Reporting Standard (IFRS) 13. “The revaluation was performed in USD and translated to ZWL using the Reserve Bank of Zimbabwe (RBZ) interbank rate for financial reporting purposes. This did not meet the fair value criteria as provided for in International Financial Reporting Standard (IFRS) 13 – Fair Value Measurement,” the report states.

Governance issues are also a concern. “The University did not have lease agreements on the buildings leased to the University by a commercial bank,” the report notes. “This was attributable to inadequate due diligence and maintenance of the University filing system.”

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In addition, the report highlights procurement issues. “The University made advance payment amounting to ZWL$22.6 million to a supplier for the purchase of heifers in May 2022. However, the heifers had not been delivered as at December 31, 2022,” the OAG writes.

Overall, the report raises significant concerns about the reliability and accuracy of Lupane State University’s financial statements. As the auditor general states, “I was unable to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements.”

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National

Cyclone Chido moves away from Zimbabwe

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BY NOKUTHABA DLAMINI 

According to the latest updates from the SADC Humanitarian and Emergency Operations Centre (SHOC), Tropical Cyclone Chido has made landfall in Mozambique, approximately 35-40km south of Pemba, in Cabo Delgado Province.

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The intense tropical cyclone brought heavy rainfall and strong gusty winds of up to 220km/h, causing widespread destruction in Mozambique. The system is expected to continue tracking west-southwest towards Malawi, steadily dissipating.

Zimbabwe, which was initially predicted to be in the cyclone’s path, has been spared the worst of the storm.

However, neighboring countries, including Malawi, are expected to experience heavy rainfall and strong winds over the next 72 hours.

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The SHOC has issued a multi-hazard impact-based classification, warning of expected impacts, including strong gusts, heavy rainfall, and rough seas, in Mozambique, Malawi, and other parts of the region.

Member states have been urged to closely monitor official weather updates, intensify public awareness campaigns, and preposition relief supplies to enable a swift response to the cyclone’s impact.

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National

Senate passes death penalty abolition bill

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BY STAFF REPORTER 

The Zimbabwe Senate has passed the Death Penalty Abolition Bill, paving the way for the country to join the growing list of nations that have abolished capital punishment.

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The bill, which has already been approved by the National Assembly, will now be sent to the President for assent and subsequent publication in the Gazette as an Act.

The country has 62 convicted prisoners facing the death penalty.

Veritas has congratulated the Senators, Members of the National Assembly, the President, and the Minister of Justice, Legal and Parliamentary Affairs for their role in facilitating the bill’s passage through Parliament.

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Justice, Legal and Parliamentary Affairs Minister Ziyambi Ziyambi, who is also the Leader of Government Business in Parliament, defended the bill in the Senate, citing studies that show the death penalty has failed to deter crime.

He emphasized that the actual number of murders remained the same despite the death penalty’s existence, questioning its effectiveness as a deterrent.

Ziyambi also highlighted the bill’s potential to address the root causes of crime, which he believes the death penalty does not tackle. He pointed out the bias of the death penalty against poverty-stricken people, stating that history shows the majority of those executed are from disadvantaged backgrounds.

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Zimbabwe has been on a de facto moratorium on executions for about 17 years, with the last execution conducted in 2005.

 

 

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Cyclone Chido bears down on Zimbabwe, government issues warning

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BY NOKUTHABA DLAMINI 

A powerful tropical cyclone named Chido is moving menacingly towards Zimbabwe, prompting the government to issue a warning and advise residents to take necessary precautions.

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According to the Meteorological Services Department (MSD), Cyclone Chido has intensified into an intense tropical cyclone and is likely to affect Zimbabwe on December 17.

The storm is expected to bring heavy rains, thunderstorms, and strong winds to several provinces, including Manicaland, Masvingo, Mashonaland East and West, Harare Metropolitan, and parts of Midlands and Mashonaland West.

The MSD has warned of heavy rainfall exceeding 70mm in 24 hours in some areas, which could lead to floods, rockfalls, and mudflows.

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Residents have been advised to plan evacuation mechanisms, avoid open spaces, secure their homes from damaging winds, and stay informed through authentic updates from the MSD and the Department of Civil Protection (DCP).

The government has assured citizens that it is taking necessary precautions to mitigate the impact of the cyclone. The DCP is on high alert, and emergency services are ready to respond to any situations that may arise.

As Cyclone Chido bears down on Zimbabwe, residents are advised to remain calm but vigilant. The government’s warning and advisory come as a precautionary measure to ensure public safety and minimize damage.

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Stay tuned for further updates on Cyclone Chido and its impact on Zimbabwe.

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