By Jomo Paul
[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.