PricewaterhouseCoopers to audit cashgate in Bingu’s era

PricewaterhouseCoopers (PwC), the world’s biggest accounting firm is expected to conduct comprehensive forensic audit of ministries and departments covering the period between 2005 and 2012.

Msowoya: PwC to carry the audit

Msowoya: PwC to carry the audit

The new forensic auditor according to treasury spokesperson, Nations Msowoya, would continue from where British auditor Baker Tilly, who uncovered traces of cashgate, left.

‘Cashgate’ denotes the systematic skimming of millions of dollars of money from the government payment system.

Germany, one of the countries that suspended aid to Malawi after a massive public sector graft scandal, has granted Malawi  $25-million  (K9.76 billion) to conduct the audit.

PwC were earlier on reported would conduct an audit into the fraud of government funds in a period between 2009
and 2012.

But Msowoya said the auditor’s scope of work would cover from 2005 to 2012, a period when Malawi was under late President Bingu wa Mutharika who died while in office due to cardiac arrest.

“Price Waterhouse Cooper International is the firm we have identified to conduct the forensic audit.  They will start from 2005 to where Baker Tilly left,” said Msowoya.

He said the new auditor would focus on budgetary allocations and expenditures to all government departments and ministries following reports of massive fraud.

British auditors, Baker Tilly, commissioned by former president Joyce Banda, showed that 13 billion Malawi Kwacha (about US $30 million) had been systematically skimmed from the government payment system in a period of six months last year.

But the Anti Corruption Bureau (ACB) says roughly K20 billion was stolen and it reported K90 billion also went missing over the eight years of late Mutharika’s presidency , equal to roughly $500m at the exchange rate of the time.

In total about 30 per cent of the country’s budget could have been looted over a decade – almost as much as donors have provided Malawi over the same period.

The scandal, dubbed “Cashgate”, prompted foreign donors – who provide around 40% of Malawi’s budget – to pull the plug on aid.

A number of government officials implicated in the fraud are facing criminal charges and a first official Treza Namathanga Senzani was jailed last month for three years over the scandal and last week former Accounts Assistant in government Victor Sithole was also convicted.

More arrests of suspects will be carried, according to ACB and government.

Follow and Subscribe Nyasa TV :

Please share this Article if you like Email This Post Email This Post

More From the World

32 thoughts on “PricewaterhouseCoopers to audit cashgate in Bingu’s era”

  1. masiye says:

    yes alike let malawians no the trueth .

  2. Mbanangwa says:

    Pricewaterhouse Cooper is great and there is no work to worry about. They do great audits, what is 94bn before them. It s a multinational firm. They have offices everywhere even Zimbabwe.Germany trust the firm, Germany will not cough such rage sum of money for cheap work. Germans are meticulous!

  3. Kaya says:

    Yoh yoh yooh!!!! So Malawian pipo…..

  4. Chindazi says:

    PWC Malawi should not be involved on this……. We want auditors who are real independent….. we Malawians we went to same school and we drink together and how do you expect to conduct a forensic audit that way………

  5. MBWENUMBWENU says:

    well you see mukathamangisa atumbuka mboma they will still come and audit you. muva kuwawa athu osatha kulemba ndiku welenganu. thick as thieves

  6. Kabwiro says:

    Why not giving the contract to Ernest and Young which said PP and JB Administration were managing government resources very well?

  7. katangs says:

    Theft at MDF during this period was very rampat because all finances were entrusted with a senior military officer who had no finance background.. Especially when there was no IFMIS and during the early stages of the IFMIS programme! Why r the investigations in bits and pieces?

  8. mboma says:

    and the result will show that 150 billion has been stolen from 2005 to 2012 under Bingu era, this country is not going anywhere, no development i tell u in this stupid country!!!! today paper says Malawi is the 8th poorest country in the world but it has never been to war ever since shame malawian politicians!!!!

  9. frank says:

    P W C fufunzani nkhani yandalama zimenezi 90 billion kwacha, tikufuna anthu amene anawononga ndalama zimenezi awonekere ndipo chilungamo chiwonekere padela.

  10. JAYJAY says:

    IYO NDE NKHANI ANTHU AKUBA AMENEWO.TIWONE NGATI PITALA NDI A CHAPONDA ,GOODAL GONDWE NDI ENA SIWAKHUZA.ZIMATCHONA ZOSAKONDA DZIKO LAWO.IFE MISONKHO YIMATIWAWA ZITSIRU ZA ANTHU ….VUTO NDI MAVOTEDWE.ANTHU OVOTA AMBIRI NDI ANTHU OSAZINDIKIRA.MU MALAWI.

    1. chiperoni2 says:

      Voti ya corruption ingabereke chiyani?

  11. Nohakhelha says:

    Tough times never last but tough people do last… Ndaonera pa aujeni, ajawo mwawaiwala inu!!

  12. Nihoriya says:

    All thieves must face justice. DPP through Bingu stole huge sums of money & Peter was the major beneficiary of the rooting. The problem we have is that we vote along tribes not issues. If we were to vote on issues JB, PETER & the rest of these real thieves wouldn’t even appear on ballot papers. Malawians must know the union UDF & DPP is the waste marriage of two very evil thieves intent to enrich themselves & this the voice of reason. I mean even now with hard times these two parties are busy stealing knowing fully well how foolish & naive Malawians are now busy only on JB cashgate. Journalists please watch out we are dealing with the same hyenas of yesterday Peter MHC houses & Muluzi 1.7 billion. Watch out!

  13. Daniel Phiri says:

    Ineyo ndine mboni yaboma ndinaba ndalama ndikumangira ndata komaso zinazo ndinamupatsa Pitala.

  14. Jonasi waku swaswa says:

    Tiyeni nazoni. Daniel Phiri tikamuzutsa.

  15. Kafodya Imdzomdzo says:

    ee Tiyeni nazoni zimenezi, ngati amati chala sichiluma mwini, lets see if it doesnt really bite this time. Chilume basi…..

  16. duman says:

    Fufuzani basi angazolowere atungwa amenewa

  17. Sibongire says:

    Mercenary Lawyers….thugs…a disgrace to the Honourable profession!

  18. Think Tank says:

    This is very good for Malawi. Those who thought God would only reveal 6 months dont know Jesus said anything said or done in the dark shall be exposed in the daylight. No politics here but trying to wipe the slate clean. Hoping those in power now will NOT be into it. Please have mercy on us. We dont deserve these service denials by few greedy individuals we trust to run our country.

  19. John says:

    Tiyeni nazoni. We all get judged by history.

  20. Tengupenya says:

    Ntchito iyo!

  21. Mbolo ziwiri za ku Balaka says:

    I am yearning for the truth but I doubt if it will come out. How can a dog bark and bite the owner? I have a feeling that it was better to do such a comprehensive audit later when this government is outa power. By the way I thought such an audit already took place and revealed unprecedented 92 billion loss through corrupt means? Somebody school me.

  22. A whistle will blow to all Key masters and DPP sympathisers to be get ready mainly Kaliati, George Chaponda, H.Mussa, Key Master Joseph Mwananveka, Goodal, Bingus Family, Kalirani, Dausi and many more that will be the End of DPP.

  23. walusungu says:

    Ndizamva kukoma nazi zikayamba but Im pity with these guys , Kaliati, Henry Mussa, Goodal, Dausi,Vuwa, George Chaponda Family of Bingu Kondwani Nankhumwa, key Master Joseph Mwanamveka and more DPP Sympathisers Get Ready soon.

  24. MaiMai says:

    Govt please such huge audits you don’t give to one Audit Firm but at least two I.e PWC and/ EY/Deloitte/KPMG. Am an Auditor am telling you this.

    Secondly, how did government end up picking pwc? Was this tendered?

    Who did the scope to pwc? I would expect another audit firm to draft the scope for government since we don’t have competent government auditors.

    pwc will easily be influenced but if its two audit firms not easy. This could be the down fall of pwc….ask A& Anderson in Enron case in USA.

    NT pwc is not the biggest Firm in the world Deloitte is sorry you can Google that.

  25. SONI ZIKOLE WALALA says:

    Most business men who were friends of Bingu were double paid on single supply.Check especially fertilizer,

  26. Vyachalo says:

    anthu ophuzila ndi akuba kwambili. employ middle educated people. aboma muzilemba ntchito anthu ophuzilako pang’ono

  27. SIZOO says:

    Koma eee pa Malawi pamenepo!!! kwanunkhatu tione momwe zithere bola osatipaka misuzi pakamwa ife kumangoti akuchita AUDIT atapatsanso chibani. Mitima ili PHA! PHA! Bola kudya mtoliro.

  28. mchindo wa satan says:

    Zonsezi ndi mphwiyo anayambitsa

  29. nkhedu says:

    just eagery watching…

  30. Goodson Zimveka says:

    enawoso amangidwe

Comments are closed.

More From Nyasatimes