Over $133M spent on Forensic audits

11

By Jomo Paul

Minister of Finance, Winston Jordan [iNews' Photo]
Minister of Finance, Winston Jordan [iNews’ Photo]
[www.inewsguyana.com] – Since coming into office in May 2015, the APNU+AFC administration has spent over $133M on forensic audits for several state agencies and other bodies.

This was revealed by the Finance Ministry, pursuant to questions posed by Opposition Parliamentarian, Juan Edghill in the National Assembly on Thursday, December 17, 2015.

Included in a range of questions, Edghill had asked that the Government  reveal exactly how much money was spent on the highly publicized audits and who were the persons contracted to carry out those audits.

The answers laid in Parliament on Thursday December 17, revealed that figure. According to the document, a total of $133M was spent on the audits, while Ram and McRae Chartered Accountants, Nigel Hinds Financial Services and Dr Anand Goolsarran received the majority of the auditing contracts.

It was revealed that Ram and McRae headed by Christopher Ram received a total of eight contracts valued over $37M.

Nigel Hinds Financial Services tallied seven contracts valued $25M while Dr Anand Goolsarran, who is a former Auditor General, scored four contracts valued close to $7M.

Other recipients included Nizam Ali and Company, Harryman Parmeswar, HLB Seebarran and Company and TSD Lall and Company.

Finance Minister, Winston Jordan in answering the questions posed by Edghill, stated that the audits were carried out in accordance with the law with specific reference to the Audit Act of 2004.

The Minister stated the procurement procedure followed in awarding the contracts was single source – in accordance with Section 28 (b) of the Procurement Act.

“Qualified and available individuals/Accounting Firms were identified to conduct the internal forensic audits. These individuals and firms were allowed to study entities and submit cost proposals,” said Jordan.

11 COMMENTS

  1. No Wonder RAM was in full support for the APNU! He received 8 contracts value 37 millions and these crooks are speaking of corruption? Guyana will never change…it does not matter who rules, the result is the same CORRUPTION and DICTATORSHIP! Money and greed lives among the dictators of the Guyana government and ministers. They could care less about the local people and developing the economy for tomorrow….

  2. Come on Guyanese ppl we smarter than this. Take a serious look at our politicians. Bharat ——-Granger
    Donald ——- Basil Williams
    Rohee——–Harmon
    Anil———— Jordan
    Irfan———–Ramjatan.
    You honestly tell me we cant do better than this.

  3. When you conduct an audit. You look at the benefit against the cost. Can u tell me what benefit have you received from the audit. And I meant finically

  4. Given the actual and perceived acts of corruption involving hundreds of millions of dollars that emerged under the PPP regime, the US$665,000 or GY$133M spent on audits were justified to reconcile books and ratchet up pressure on the government to take whatever legal action is necessary to bring about resolutions.
    The large body of information that entered the public domain about financial shenanigans paint a demining picture, which we would never have seen or known had the PPP retained power on May 11.
    That being sais, all public expenditures, including those single sourced or via public tender, must be done by the Auditor-General, after which, the Auditor-General presents them to Parliament. There is no procedure that allows for audited public accounts done, either by the Auditor-General or independent auditors, to be submitted to Cabinet to be studied and follow-up action, but to the parliamentary Public Accounts Committee.
    The PPP has repeatedly resorted to Cabinet for decisions that should normally be within the remit of Parliament, and this behavior is being replicated by the coalition, which must be denounced.
    Now that the audits are done and submitted to Cabinet, will they remain with the Cabinet or will they be turned over to Parliament? And if they will be turned over to Parliament, will the information be made public and will there be any punitive action against those culpable?

  5. The previous corrupt PPP government was known for their continuous infractions – Its a sad state when you even have petty infractions… end of story.

  6. paul your rite with retire them old horses.. look how much old donkey in the current government and how much the keep hiring. we need give the youths dem a chance.

  7. I think its about time we put these majour political party to rest and find another Walter Rodney who was looking out for the interest of ALL Guyanese. But look what happen to him. Time to retire them old horses ppl.

  8. Over $133M spent on Forensic audits.

    It was revealed that Ram and McRae headed by Christopher Ram received a total of eight contracts valued over $37M.

    Ram bhai you best be careful now since you didn produced and delivered the nasty juicy good on your PPP buddies to PNC.

    Ram bhai You making PNC look like gullible dunces where they lap up every word you say. PNC will not tolerate you for much longer..They will want that money back from you so you better keep it stashed in a safe place when PNC come calling for it.

  9. Oh la la…what about the commission of enquires..GUSUCO,,GPSU etc etc etc..mojority of the money gone to PNC+APNU cronies to witch hunt perceived PPP supporters?? End results = dismissal for petty infractions. Sad state!!

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