Latest update April 12th, 2025 7:02 AM
Latest News
- Guyana’s oil continues to shine as Hess’ top seller
- Govt. in talks with GuySuCo to revive private cane farming in Region 3-Pres. Ali
- “You can’t die with me,” mother’s final words before saving son in Berbice River boat mishap
- US judge finds that Columbia University activist in solidarity with Palestine can be deported
- Sufficient grounds exist to disqualify Commissioner of Information from Office- Int’l Lawyer
Forensic audit reports highlight weaknesses of Guyana’s accounting landscape – Finance Minister
When the coalition, A Partnership for National Unity (APNU) + Alliance for Change (AFC) got into office back in May 2015, several forensic audits were commissioned to determine, mainly, the financial state of the inherited government
Finance Minister Winston Jordan
agencies and projects.
Minister of Finance, Winston Jordan, is now saying that the commissioning of these audits was done by the government without considering the accounting landscape in Guyana.
The Minister said that the government subsequently learnt that there were not many forensic auditors locally at that time.
Jordan said that even though the state contracted a range of local individual accountants and accounting firms, with specific terms of reference, the work product, in several cases, “fell far short” of what one expects from a forensic audit.
The Minister’s remarks have now raised the question of whether the “forensic auditors” that were contracted, could have dug a little deeper.
“Nevertheless, the findings were many, varied and revealing, with several of the reports being given to a special investigative unit to pursue criminal charges, where appropriate,” the Minister added.
The economist also stated that the findings reflected shortcomings in the Auditor General’s systemic and human capacity.
Jordan was at the time, delivering remarks at the 35th Annual Conference of the Institute of Chartered Accountants of the Caribbean (ICAC), which is currently being held at the Marriott Hotel, Kingston Georgetown.
“I do not know whether this problem is peculiar to Guyana or whether it is observed across the Caribbean accounting family. What I would ask is that, over the next few days, you devote some attention to addressing this issue.” Jordan asked of the ICAC.
Over the past few months, government has handed a number of forensic audit reports to the Guyana Police Force (GPF) for further investigations.
These financial audit reports include the National Insurance Scheme (NIS); the National Drainage and Irrigation Authority (NDIA); the Guyana Lotteries Commission; the Scrap Metal Unit; Central Housing and Planning Authority (CH&PA); and the purchase of a Water Cannon for the Commissioner of Police, by the Ministry of Home Affairs during the former regime – the People’s Progressive Party/Civic (PPP/C)’s tenure.
Other final reports of the forensic audits were also handed over to the GPF. These include the Mahaica, Mahaicony, Abary- Agriculture Development Association (MMA-ADA); the Hydrometeorological Office, National Communications Network, Marriott Hotel, Guyana Power & Light (GPL), Go-Invest, and the Guyana Energy Agency (GEA), along with a Report of the Board of Inquiry into Allegations of Wrongdoing, Malpractices and Mismanagement in the purchase of fuel by the Guyana Oil Company (GUYOIL) and GEA.
The decision to have these documents handed over to the Police Commissioner for investigation was made by Cabinet.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
Mashing an ants’ nest
Peeping Tom Kaieteur News- The People’s Progressive Party Civic has always believed in its own myth. It has fashioned... more
The U.S. “Joining” the Commonwealth: an unreasonable expectation
By Sir Ronald Sanders Kaieteur News- Recent media stories have suggested that King Charles III could “invite” the United... more
Weekend Cartoon
