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## 3.3 Strategic Grain Reserve (SGR) 

The auditors noted, as in the previous year, that the contractual stock holding levels for grains were not met as at year-end. According to the contract with SGR the contract stock quantities should be maintained as follows 

<img src='content_image/448790.jpg'>

The auditors highlighted this non-compliance with the agreement by the government through the parent ministry and recommended that management should actively review and ensure compliance with agreement. 

In response, management stated that the SGR funds had been depleted and the Government had been informed that they needed to replenish the funds with P234 million in order to keep the SGR stock at the required levels. Management further stated that Government had indicated that they had no funds. The funds had been included in the Ministry’s proposed budget for 2019/20. 

## 125. Botswana Bureau of Standards 

The financial statements of Botswana Bureau of Standards for the financial year ended 31 March 2018 were audited by Messrs Mazars, Certified Auditors, who were appointed by the Board. 

## 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 Bureau of Standards as at 31 March 2018, and of its financial performance and cash flows for the year then ended, in accordance with International Financial Reporting Standards. 

