Report
of the Auditors
In
accordance with the provisions of the decree-law
nº1/ 38 dated July 7, 1993, on Banks and
Financial Institutions regulations, it is a honor
for us to present you our report on the implementation
of our mandate to control the financial year 2002.
Our
control was carried out according to the international
account auditing norms and included the analysis
of the documents and other accounting records.
We
have carried out verifications by spot checking
and cross checking and by usual inventory controls
for the year ending 31, 2002. The verified existing
documents are kept in conformity with the accounting
figures.
According
to the general auditing norms, we have examined
the situation of the assets and liabilities and
the losses and profits account as at December
31,2002.
These accounts are in compliance with the balances
of the trial balance.
In
conclusion to our work and in accordance with
the decree-law nº 1/38 dated July 7, 1993,
we can certify that the annual accounts for the
year 2002 show a consolidated total balance sheet
for INTERBANK and INVESTIMMO
of BIF 56, 254, 914, 019 and a net profit of BIF
1, 085,279, 976 and that the Balance Sheet , Losses
and Profits Account submitted to you for approval
correctly reflect the financial situation of the
bank as at December 31, 2002.
Done in Bujumbura, January 18th, 2002
Déo
BANDEREMBAKO  Prime
NYAMOYA.-
Annex
to the Auditors' Report
Details
on control made
Control
activities concerned notably the following elements
:
-
The
quality of the portfolio and subsequent guarantees,
the deposits and the investments : credits
allocated are regularly monitored (as far
as the principal, the interests and guarantees
are concerned ) as reflected by the monthly
state of risks and the analysis of the relevant
sample of individual credit files . The investments
portfolio is made of treasury bonds.
-
The mode of interest posting has not shown
any irregularity .
-
The
control of compounding between the balance
sheet data and the income statement on one
hand, and that of the general balance on the
other hand
The balances correspond perfectly.
-
The
expenditures account and the revenue account
have been verified through cross- checking
and spot sampling. The IBB non-consolidated
income from the banking activities can be
splitted as follows:
| Agence |
Total
des produits |
Total
des charges |
Résultat
net d'impôt |
| SIEGE/BUJUMBURA |
6.879.998.194 |
5.961.668.749 |
918.329.445 |
| NGOZI |
227.561.039 |
164.860.815 |
62.700.224 |
| KIRUNDO |
111.319.548 |
78.839.806 |
32.479.742 |
| GITEGA |
153.964.023 |
126.110.357 |
27.853.666 |
| MUYINGA |
76.559.757 |
62.188.451 |
14.411.306 |
| TOTAL |
7.449.442.561 |
6.393.668.178 |
1.055.774.383 |
INVESTIMMO income is estimated to BIF 29,505,593
-
Checking
amortization tables : the amortization are
regularly operated in conformity with the
relevant rates.
-
The
provisions level according to the criteria
of the bank law and the relevant taxation
: The provisions are regularly constituted
in compliance with the circular nº 12
related to the classification of risks and
the provisions policy.
-
The
checking and compounding of the different
INTERBANK ratios to those established by the
CENTRAL BANK . The INTERBANK ratios reflect
favorable surplus as compared to those standards
with regard to the minimum capital the shareholders'
equity, the relation between the stable resources
and fixed assets and at more than 5 years,
the risk division, the solvency ratio, the
cash ratio, the compulsory reserves and the
sharer holders’equity.
-
The
fiscal declaration for the fiscal year 2002
: INTERBANK taxes are amounted to BIF 824,142,130.
Done
at Bujulbura, January 18th, 2003
Déo
BANDEREMBAKO Prime
NYAMOYA.- |
Report of he Auditors