The Social Security Institute of the Angolan Armed Forces (ISS-FAA) recorded expenditure of 708.9 million kwanzas on external auditing services, despite the initial contract signed with CROWE ANGOLA being valued at approximately 85.6 million kwanzas. The difference, exceeding 623 million kwanzas, was identified by the institution’s Supervisory Board, which also highlighted several irregularities in its financial reporting.
According to a report published by the newspaper Valor Económico, the Social Security Institute of the Angolan Armed Forces contracted CROWE ANGOLA to conduct an external audit after several years without submitting its accounts to this type of financial scrutiny.
The contract was signed for approximately 85.6 million kwanzas. However, the expenditure actually recorded by the institution reached 708.9 million kwanzas, an amount more than eight times higher than the initially agreed contract value.
The discrepancy, amounting to approximately 623.3 million kwanzas, is mentioned in the observations of the ISS-FAA Supervisory Board, which questions the regularity of the expenditure and the lack of documentation capable of clarifying the circumstances under which the payment was made.
According to Valor Económico, the Supervisory Board states that the contractual or legal outcome of the auditing services was not demonstrated, despite the services having been contracted and paid for.
This situation reportedly hindered the work of the supervisory body, which ultimately limited its assessment to statements submitted by the institution’s management, without the benefit of a technical opinion resulting from the external audit.
The Supervisory Board’s report also identifies other shortcomings in the ISS-FAA’s financial and asset management, including omissions in the schedule of outstanding payments, insufficient information on internally generated revenue, and the absence of a detailed asset inventory.
Faced with these limitations, the supervisory body declared that it lacked sufficient grounds to issue a comprehensive opinion on the regularity, legality and overall reliability of the institution’s financial accounts.
These findings raise questions about the ISS-FAA’s financial control mechanisms, particularly regarding the difference between the contracted amount and the recorded expenditure, as well as the actual delivery of the auditing services.
14/10/2026
