PAC delays to release Cashgate names until Speaker returns from foreign trip

Parliament through the Public Accounts Committee (PAC) has said it will wait for  the Speaker Richard Msowoya to  return from foreign  trip  before releasing names of individuals and businesses identified in the recent forensic audit that established that about K236 billion in public funds could not be reconciliated between 2009 and December 31 2014.

Menyani: We will release the names when the Speaker returns

The audit was conducted by British firm RSM Risk Insurance LLP.

Auditor General’s office said they could not release the names of people and companies allegedly involved in the scandal to avoid jeopardizing the ongoing investigations.

PAC chairperson Alekeni Menyani said his committee was expected to release the names on Tuesday but postponed due to the abscence of the Speaker.

He said they will wait for the Speaker’s return to release the names.

Menayni said the committee was still determined to release the names of those named in the report.

“The committee has an obligation to inform the general public on who is suspected to have Cashgated,” said Menyani.

According to the report, the audit found that K83.5 billion of the K236 billion which could not be accounted for was paid to 44 companies from the sample of 50 that the auditors selected to analyse.

The audit also found that billions were lost in overpayment of goods and services, duplicate payments and overpayment on shipping to wrong locations.

Initially, the amount suspected to have not been accounted for was pegged at K577 billion, according to a PricewaterhouseCoopers (PwC) data analysis released in May 2015.

However, the forensic audit established, through its testing of the system and controls, that the unreconciled funds could be in the region of K236 billion.

Follow and Subscribe Nyasa TV :

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

More From the World

Sort by:   newest | oldest | most voted
major pen
Guest
What I believe maina palibe nanga monsemuja tichula tichula masiku a kutha. Nkhaniyi ndi ndale chabe Joyce had two solid years samawamanga anthuwo bwanji? Peter in two years amangidwa angati?. Apa ndi failing to reconcile izi ndiye ndi ma agent onse aboma amatayilira ma recept a fuel, za kudya, ma allowance, ena ma payment voucher sasamala at the end of day pamapezeka ngati ndalama zinabedwa koma Ayi ndinthu Pena pake wina wake analephera ntchito yake, ma inflation of figures sangalephere anthuwa amadyera momo izo zawo akapysa, izi zinali zosapangana aliyense amangoifira yekha. Mine Bingu amavutira muja akanaba anali ndani? mwina… Read more »
Matombodya
Guest

What has the speaker to do with the release of the names?

Dzina Msamatchula
Guest

So PAC now comfirms that there are names? I thought at some point the PAC chair was at loggerheads with his deputy when the deputy said that there are names whilst on the other hand the chair said that there are no names? Malawi @ 52+. Lord have mercy

Zander mutiuze
Guest

They are all corrupted idiots. Before PAC was good nowardays They are all like other thieves. There is NO honest patriotic Malawian. They live in this country like it not their nation and childrens future nation. I Wonder why not selling Malawi to people Who can love the small beautiful nation of most impoverish nation. The church has bunden this country.

wpDiscuz

More From Nyasatimes