An in-depth investigation by Hard Facts has revealed that recent media controversies surrounding the National Social Security and Welfare Corporation (NASSCORP) stem largely from a fundamental misunderstanding of a technical audit term “Unqualified Audit Report.” Contrary to sensational media portrayals, the Auditor General’s opinion on NASSCORP’s financial statement audit indicates a clean and credible financial performance, not wrongdoing.
The General Auditing Commission’s (GAC) official audit opinion on NASSCORP’s 2022 and 2023 financial statements clearly states an “unqualified audit report” the highest form of assurance any independent auditor can provide. However, several media institutions have misrepresented this terminology, misleading the public into believing that the audit uncovered fraud or financial irregularities. In truth, the Auditor General’s opinion represents the opposite. An “Unqualified Audit Report” does not imply that there were no minor errors or misstatements found during the audit process.
Rather, it means that any discrepancies identified were either corrected by NASSCORP or were deemed insignificant and immaterial to the overall financial statements. It also does not suggest that the entity is perfectly compliant with every aspect of the International Standards of Supreme Audit Institutions (ISSAIs), audit laws, or that all spending was perfectly efficient or economical.
Instead, it confirms that NASSCORP’s financial statements fairly and accurately represent its financial position in line with accepted accounting standards and practices. In audit terminology, an “unqualified opinion” is also referred to as a “clean audit.” It is the best possible outcome following an independent financial audit. It signals that the financial statements are free from material misstatements and that the organization’s accounting processes are transparent and reliable.
In modern auditing, an unqualified audit report is the equivalent of a clean bill of financial health. It demonstrates that an institution’s books are transparent, accurate, and free from material fraud or misrepresentation. It is the highest assurance an auditor can give to the public, investors, and government stakeholders affirming that financial statements present a true and fair view of the organization’s operations. This level of assurance is especially critical for public institutions like NASSCORP, which handle pension and welfare funds for thousands of Liberians.
A clean audit reinforces the Corporation’s reputation as one of Liberia’s most professionally managed public agencies. Despite this, several local media outlets have misinterpreted and sensationalized the findings of the 2022 audit report, suggesting that the GAC had uncovered irregularities or malfeasance at NASSCORP. These reports are factually inaccurate and technically flawed.
The General Auditing Commission’s audit opinion, signed by Auditor General P. Garswa Jackson, clearly indicated an unqualified opinion not a qualified, adverse, or disclaimer opinion, which would have signified problems. Furthermore, NASSCORP’s 2023 financial audit, also released by the GAC, sustained this same clean audit status, reinforcing the institution’s consistency in sound financial management.
In response to the wave of misinformation, the Civil Society Council of Liberia (CSCL) has condemned the inaccurate media reports as “reckless and deceptive journalism.” The Council emphasized that misrepresenting technical audit terminology for sensational headlines not only damages reputations but also undermines public confidence in key national institutions. Speaking on behalf of the CSCL, Executive Chairperson Mr. 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 report is a confirmation of sound financial management, not a charge of corruption.” Mr. Mula further cautioned that such misinformation jeopardizes the hard-earned credibility of an institution that has demonstrated consistent adherence to the principles of transparency and accountability in the management of national welfare funds. The Civil Society Council called on media practitioners to exercise professionalism, accuracy, and ethical judgment when interpreting and reporting technical financial or audit-related documents.
The Council stressed that responsible journalism requires diligence, consultation with experts, and an understanding of the subject matter before publication. “The misuse of audit terminology is not just a reporting error; it is a public disservice,” Mula added. “The public deserves accurate information, especially when it concerns institutions that safeguard citizens’ social security.” The CSCL further recommended that journalists and editors engage with auditing professionals or accounting experts when reviewing official audit reports from the GAC or any government body to ensure factual accuracy and prevent public confusion.
Over the years, NASSCORP has consistently received positive audit opinions, reflecting a culture of strong financial stewardship and operational discipline. The Corporation’s management has implemented modern accounting systems, enhanced staff capacity in compliance reporting, and embraced digital transformation to improve efficiency and service delivery. NASSCORP’s clean audit record underscores its ongoing commitment to transparency, ensuring that contributions from employees and employers are properly accounted for, invested responsibly, and disbursed to beneficiaries in accordance with the law.
The Hard Facts investigation concludes that the controversy surrounding NASSCORP’s audit report is “much ruckus about nothing.” The phrase aptly captures the reality that the alleged scandal exists only in the imagination of those who misinterpreted the audit terminology. The unqualified audit report issued by the Auditor General should, in fact, be seen as a badge of integrity a testament to NASSCORP’s sound financial management, accountability, and compliance with recognized standards. As Liberia continues to strengthen its governance and transparency frameworks, accurate and responsible reporting remains crucial to sustaining public confidence in the institutions that serve the people.
