Ethiopian National Lottery Administration
Manages and supervises lottery activities in Ethiopia, operating lotto, tombola, and scratch card games.
Revenue
ETB 1.1B
FY 2015
Net Profit
ETB 564.2M
Profit
Total Assets
ETB 802.8M
FY 2015
Total Equity
ETB 2.6M
Revenue & Profitability
Revenue, cost of sales, and net profit over time
Balance Sheet
Total assets, liabilities, and equity over time
Audit Opinion Timeline
Key Audit Findings
Basis for qualified opinion from the latest audit report
#1 Property, plant and equipment not reconciled with the fixed asset register. Physical existence of PPE at Birr 227,617,607 could not be fully ascertained.
Property, plant and equipment not reconciled with the fixed asset register. Physical existence of PPE at Birr 227,617,607 could not be fully ascertained.
Property, plant and equipment not reconciled with the fixed asset register. Physical existence of PPE at Birr 227,617,607 could not be fully ascertained.
Amount: ETB 227.6M
#2 Year-end lottery count and sales receivable shows unreconciled difference of Birr 2,865,358. Staff debtors included abnormal credit balance of Birr 2,261,126. Debtors at Birr 72,119,455 unverifiable.
Year-end lottery count and sales receivable shows unreconciled difference of Birr 2,865,358. Staff debtors included abnormal credit balance of Birr 2,261,126. Debtors at Birr 72,119,455 unverifiable.
Year-end lottery count and sales receivable shows unreconciled difference of Birr 2,865,358. Staff debtors included abnormal credit balance of Birr 2,261,126. Debtors at Birr 72,119,455 unverifiable.
Amount: ETB 72.1M
#3 Inadequate internal control over recording of proceeds from ticket sales. Unable to verify ticket sales at Birr 1,112,986,373.
Inadequate internal control over recording of proceeds from ticket sales. Unable to verify ticket sales at Birr 1,112,986,373.
Inadequate internal control over recording of proceeds from ticket sales. Unable to verify ticket sales at Birr 1,112,986,373.
Amount: ETB 1.1B
#4 VAT and Prize tax payable ledger closing balances showed differences of Birr 6,055,817 and 21,250,067 respectively. Tax payable balance of Birr 41,002,966 under creditors unascertainable.
VAT and Prize tax payable ledger closing balances showed differences of Birr 6,055,817 and 21,250,067 respectively. Tax payable balance of Birr 41,002,966 under creditors unascertainable.
VAT and Prize tax payable ledger closing balances showed differences of Birr 6,055,817 and 21,250,067 respectively. Tax payable balance of Birr 41,002,966 under creditors unascertainable.
Amount: ETB 41.0M
#5 Netted-off unreconciled balance of Birr 41,084,700 between cash at bank ledger and bank statements. Cash certificate discrepancy of Birr 969,555. Cash and bank balances at Birr 453,772,420 unverifiable.
Netted-off unreconciled balance of Birr 41,084,700 between cash at bank ledger and bank statements. Cash certificate discrepancy of Birr 969,555. Cash and bank balances at Birr 453,772,420 unverifiable.
Netted-off unreconciled balance of Birr 41,084,700 between cash at bank ledger and bank statements. Cash certificate discrepancy of Birr 969,555. Cash and bank balances at Birr 453,772,420 unverifiable.
Amount: ETB 453.8M
The National Lottery Administration has a unique P&L structure: revenue is ticket sales, cost of sales comprises sales commissions and prize payments. The Administration is not subject to income tax. Profit is due to the Ministry of Finance / Ethiopian Investment Holdings.