K92bn forensic report not ready: Malawi AG says only ‘audit query’ analysis

A forensic audit report expected to unravel the  K92 billion (US$206.7 million) Cashgate which was reportedly mismanaged during the first Democratic Progressive Party (DPP) is not ready , Auditor General has said confirming what President Peter Mutharika told a news conference last week.

Mutharika told journalists that there is an “audit query” involving the K92 billion.

The President, however, explained that the said report to be released should not be confused with issues revolving the cashgate scandal.

“I understand that this was an audit query so let’s not confuse this with cashgate situation”, said Mutharika.

On Monday, a statement from National Audit Office (NAO) signed by Auditor General Stephenson Kamphasa, there is no forensic audit report but the data analysis results.

Kamphasa said the results of the data analysis are only the first step towards a full forensic investigation and does not in any way mention anyone let alone implicating them.

“The data analysis in not a forensic audit, rather it is the first stage of such audit which needs to be looked into and will be followed by forensic investigations.” Kamphasa said.

“ From the data analysis alone, it is not possible to establish exact amounts or causes of the discrepancies nor how many of these funds were misappropriated. Therefore, at this stage, no loss of money has been determined nor the names of those behind it,” reads part of the statement by the Auditor General seen by Nyasa Times.

As a next step, the NAO, with support from German government, intends to conduct and finalise further investigations into the causes, individuals and companies involved and the amount of money concerned within a time frame of around 10 months.