Monrovia — The General Auditing Commission (GAC) has requested additional time to complete its investigation into a high profile US$1 million revenue audit case involving the Ministry of Finance and Development Planning (MFDP) and the Liberia Revenue Authority (LRA), citing the need for a comprehensive review of alleged discrepancies in government financial records from 2018 to 2024.
While the audit was initially expected to be completed by this May 2025, delays in the review process prompted the auditors to seek an extension to ensure a thorough and independent investigation.
Speaking at a press conference in Monrovia, Information Minister Jerolinmek Piah said the Government of Liberia has looked into the request and has granted the General Auditing Commission (GAC) additional time to complete its investigation, and properly review and reconcile revenue collection records linked to the audit process covering July 2018 to December 2024.
The controversy stems from a GAC audit report published between 2018 and 2024 that alleged that more than one billion United States dollars could not be fully accounted for in government financial records.
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The report stated that the money reportedly passed through transit and consolidated government accounts, but investigators were unable to determine who withdrew or authorized the transactions.
Following the publication of the report, the Central Bank of Liberia (CBL) and the Liberia Revenue Authority reportedly met to respond formally to the audit findings and outline corrective measures already taken.
"As you are aware, the Auditor General recently released the General Auditing Commission report on the Government of Liberia's revenue collection and reconciliation process from July 1, 2018, to December 2024," Minister Piah said. "We convened this press conference to provide context to the audit and highlight key findings and actions already taken."
He further disclosed that President Joseph Boakai had been briefed on the matter and immediately ordered that portions of the report be forwarded to the Ministry of Justice for further investigation.
He said the government also requested that the Liberia Anti-Corruption Commission conduct an independent review to determine the source of discrepancies between revenue reported through government systems and deposits made into official accounts as of December 21, 2024.
The information minister noted that the Auditor General informed the government of plans to conduct advanced audits covering the period from 2018 to 2023.
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Despite delays, the government agreed to extend the investigation timeline, emphasizing that a credible audit process requires technical independence and careful examination of financial records.
The audit report highlighted several major concerns, including discrepancies between revenue recorded in transit bank accounts and the government's consolidated revenue accounts, inconsistencies in tax administration records, and irregularities involving customs brokers and tax payment systems.
The report also cited unauthorized withdrawals from several transit accounts linked to the Ministry of Finance and the Liberia Revenue Authority.
Meanwhile, the government confirmed that the report has been forwarded to the Ministry of Justice and the Liberia Anti-Corruption Commission for further action, warning that anyone found responsible for financial misconduct will face the full weight of the law.
