3.4  EMS Incoming/Outgoing and SDR Debtors  3.5 Stated Capital  3.6  Manual Intervention between Riposte and Accpac stamps that they had received from Government for displaying  in the company’s philatelic museum.  In response management noted the finding and stated that they  had already engaged an expert to start the process.  The auditors noted that there was no matching of the receipts  and invoices for advance Money Orders, EMS incoming/outgoing and SDR accounts which resulted in inappropriate ageing of the accounts balances and made it  difficult to assess and evaluate the allowances for impairment.  In response management noted the auditors finding and stated  that the current system had limitations as transactions were in  foreign currency, however, they continued to reconcile manually  and the gap was expected to be fully addressed in the new  system.  The auditors noted that the stated capital on application for  registration of a public company filed on the 5 August 2015 was  P100. The same amount of stated capital was reflected in the  annual returns filed on 9 March 2018. However, the stated capital  per the ledger and the financial statements for the prior year  and the current year was stated as P38 700 421, resulting in a  difference of P38 700 321.  In response management stated that in the transition to becoming a company limited by shares the registration was  inadvertently done at P100 and the matter was being attended  to.  The auditors noted that entries relating to inventory from Riposte  were manually captured in Accpac thereby increasing the  chances for errors to occur and bringing into question the  completeness of data captured in the general ledger.  In response management noted the auditors finding and stated  that in the current setup the manual interventions were necessary due to systems inadequacy and that the new Counter  Automation and ERP systems would be fully integrated and go  live by January 2019.  150 