An in-depth investigation by Hard Facts has revealed that the recent wave of controversy surrounding the National Social Security and Welfare Corporation (NASSCORP) arises largely from a misunderstanding and in some cases, a deliberate distortion of a technical auditing term: “Unqualified Audit Report.” Contrary to sensational media headlines suggesting corruption or irregularities, the General Auditing Commission’s (GAC) opinion on NASSCORP’s 2022 and 2023 financial statements represents the highest level of financial assurance any independent auditor can provide.
In professional accounting and auditing language, an unqualified audit report often referred to as a clean audit is a declaration that an institution’s financial statements fairly and accurately reflect its true financial position, free of material misstatements or fraud. In essence, the GAC’s audit did not uncover wrongdoing at NASSCORP. Rather, it affirmed that the Corporation’s financial reporting complies with accepted accounting standards and that its internal controls are effective and transparent.
Any minor discrepancies found during the process were either promptly corrected or deemed immaterial to the overall financial picture. This level of assurance is particularly significant for an institution like NASSCORP, which manages the pension and welfare contributions of thousands of Liberians. A clean audit report from the GAC is an endorsement of NASSCORP’s governance, accountability, and operational discipline. Unfortunately, a number of local media outlets have misrepresented the technical terminology, misleading the public to believe that the GAC’s findings expose irregularities.
These reports are factually incorrect and technically flawed. In response, the Civil Society Council of Liberia (CSCL) has condemned what it calls “reckless and deceptive journalism.” CSCL Executive Chairperson Mark Mula stated: “The auditor’s letter clearly commended NASSCORP’s financial transparency. To twist that into a scandal is malicious and irresponsible. An unqualified audit report is a confirmation of sound financial management, not a charge of corruption.” Mr. Mula further urged journalists to exercise professionalism, accuracy, and ethical judgment when reporting on audit or financial matters.
The misuse of technical terms, he warned, does not only distort public perception but undermines confidence in national institutions that manage critical welfare resources. Over the years, NASSCORP has consistently earned positive audit opinions reflecting a strong culture of financial stewardship. The Corporation has modernized its accounting systems, strengthened internal compliance mechanisms, and invested in staff capacity to enhance transparency and service delivery.
The controversy, therefore, is a case of “much ruckus about nothing.” The unqualified audit report is not evidence of scandal it is, in fact, a badge of integrity, attesting to NASSCORP’s adherence to high financial management standards. As Liberia advances its governance and accountability reforms, the role of the media remains pivotal. But that role must be guided by truth, accuracy, and technical understanding. Public trust in institutions like NASSCORP depends not on sensationalism, but on responsible journalism and informed reporting.
