(2022-06) BRH Audited Financial Statements, FY closed 30 September 2021

BRH • 2022

Summary — KPMG and Merove-Pierre issued an unqualified independent auditors' report on the Banque de la Republique d'Haiti's financial statements for the fiscal year ended 30 September 2021, signed 30 June 2022. Total assets grew to 530,353,036 thousand HTG from 356,793,997 thousand HTG in 2020, driven mainly by higher foreign currency holdings and lending to the government.

View Document View Original Source

Key Findings

Unqualified (clean) audit opinion issued jointly by KPMG S.A. and Merove-Pierre on 30 June 2022 for FY ended 30 September 2021.
Total assets rose to 530,353,036 thousand HTG in 2021 from 356,793,997 thousand HTG in 2020, a roughly 49% increase.
Prets et avances au gouvernement et aux collectivites (lending to the state and local governments) grew to 219,943,026 thousand HTG from 143,622,485 thousand HTG.
Net income for the exercise fell to 519,797 thousand HTG in 2021 from 1,859,763 thousand HTG in 2020, despite produit net bancaire rising to 20,967,955 thousand HTG, due to a sharp jump in remunerations et charges sociales to 18,675,221 thousand HTG.

Full Description

This is the independent auditors' report and audited annual financial statements of the Banque de la Republique d'Haiti (BRH, the central bank) for the fiscal year ended 30 September 2021, audited jointly by KPMG S.A. (Paris La Defense) and Merove-Pierre Cabinet d'Experts-Comptables (Port-au-Prince), and signed on 30 June 2022. The auditors state that the financial statements, prepared under the accounting framework set by the BRH's 17 August 1979 organic law, present fairly the Bank's financial position and cash flows, and issue an unqualified (clean) opinion, noting the accounts were closed by the Governor on 29 June 2022 amid the ongoing Covid-19 context. The balance sheet shows total assets and total liabilities plus equity of 530,353,036 thousand HTG at 30 September 2021 (versus 356,793,997 thousand HTG in 2020), with the main asset increases in avoirs en monnaies etrangeres (227,578,322 thousand HTG), prets et avances au gouvernement et aux collectivites (219,943,026 thousand HTG), and avoirs sur le FMI (16,790,985 thousand HTG). On the liabilities side, comptes d'engagements rose to 257,405,590 thousand HTG and billets et monnaies en circulation to 108,669,820 thousand HTG, while capital et reserves stood at 22,937,755 thousand HTG.

Topics

Geography

Time Coverage

2020-10 — 2021-09

Keywords

BRH, etats financiers, audit, KPMG, Merove-Pierre, bilan, banque centrale, gourde, 2021, reserves

Entities

Banque de la Republique d'Haiti, BRH, KPMG S.A., Merove-Pierre Cabinet d'Experts-Comptables, Fonds Monetaire International

Notes

Cover page states exercise closed 30 September 2021 but the auditors' report itself is signed 30 June 2022 and accounts were arretes by the Governor on 29 June 2022; the (YYYY-MM) prefix uses 2022-06 (the report/publication date) rather than the fiscal year-end, since that is the date the document became final and public.