124. Botswana Agricultural Marketing Board  2.0 Accounts 2.1 Audit Opinion 2.2 Financial Results  2.3 Dividends  In response management stated that the Authority had recently  acquired a fixed asset module to manage assets and that during  implementation a system would be put in place with the necessary controls including all those recommended by the  auditors.  The financial statements of Botswana Agricultural Marketing Board for  the financial year ended 31 March 2018 were audited by Messrs Ernst  and Young, Certified Auditors, who were appointed by the Board in  terms of Section 16 (3) of the Botswana Agricultural Marketing Board  Act (Cap 74: 06).  In the opinion of the auditors:  The financial statements presented fairly, in all material respects,  the financial position of Botswana Agricultural Marketing Board  as at 31 March 2018, and its financial performance and cash  flows for the year then ended, in accordance with International  Financial Reporting Standards and in the manner required by the  Botswana Agricultural Marketing Board Act (Cap. 74: 06).  The Board recorded deficit of P65.36 million, compared to a  profit of P19.96 million recorded in the prior year. The decline in  performance was mainly attributable to a decrease in revenue  by P114.70 million from P400.67 million in the previous year to  P285.97 million in the year under review (28.63% decrease) and a  decrease in other income by P34.71 million from P48.89 million in  the previous year to P 14.17 million in the year under review (71%  decrease).  Income declined by 33% from P449.82 million during the previous  year to P300.70 million during the year under review, while on the  other hand expenditure decreased by 15% from P429.86 million in  the previous year to P365.41 million during the same period.  Under the Presidential Directive Cab 40/2004, each parastatal  which is not subject to tax on its profits is required to pay 25% of  104 