## 2.0 Accounts 

## 2.1 Audit Opinion 

## In the opinion of the auditors: 

The financial statements presented fairly in all material respects, the financial position of Botswana Trade Commission as at 31 March 2018, and of its financial performance and cash flows for the year then ended, in accordance with International Financial Reporting. 

## 2.2 Financial Results 

The financial operations of the Commission showed a surplus of P1.06 million for the year under review, compared to P44 456 in the previous year. Income increased by 15% from P9.19 million in the previous year to P10.60 million in the year under review, while expenditure increased by 4% from P9.13 million in the previous year to P9.53 million in the year under review. 

The Commission is funded by Government grants and in the year under review the grant was P10.59 million, compared to P9.14 million in the previous year. 

## 2.4 Working Capital 

The working capital position of the Commission as at 31 March 2018 showed total current assets of P3.00 million and total current liabilities of P1.63 million, resulting in a net current assets position of P1.37 million. 

## 3.0 Management letter 

The auditors had issued a management letter and the matters raised dealt with accounting procedures and internal controls which were only of interest to management, hence did not warrant mention in this report. 

## 156. Botswana Unified Revenue Service 

As part of my writing of this report, and in line with the long standing arrangement with the Public Accounts Committee, I had circularized all statutory bodies and state-owned enterprises requesting them to forward to me copies of their audited financial statements and reports for purposes of review and inclusion of the review results in this report. The Commissioner General of the Revenue Service has responded 

