Site icon The Maravi Post

The K577bn Cashgate report that has set social media abuzz and left opposition irate

Malawi Cashgate AuditThe Malawi Social Media giants like Wise one from the East, Steve Sharra and Allan Ntata in the days leading to the release of Price water house Coopers (PwC) analysis and reconstruction of the Malawi Government’s cashbook audit report, had hinted that Malawians should be prepared for explosive revelations. 

However the report appears to have landed with a thud as it appears to have been very shallow in its goals and hardly mentions any names, just highlighting transactions and the periods they took place, leaving many to guess as to who it implicates and exonerates. 

 

The Price water house Coopers (PwC) analysis and reconstruction of the Malawi Government’s cashbook does reveal that hundreds of millions of kwacha may have been siphoned from Capital Hill through duplicate cheque payments. 

PwC was subcontracted by Germany to help the National Audit Office (NAO) to carry out an examination of public finances from January 1 2009 to December 31st 2014. 

To magnify the incompleteness of the report, Many MP’s from both the PP and MCP are angry and asking the Mutharika Government to commission a more thorough forensic report in the hope that it will implicate Peter Mutharika and his deceased brother Bingu WA Mutharika. 

There is no doubt that the data analysis shows five examples of cheques reflected on banks statements with same cheque numbers, but processed on different dates. A fact that should implicate our Malawi Banks and their standards and their auditing practices. 

The cheques records, according to the analysis, were extracted based on several filters which included, among others, flagging cheques with same numbers, same amounts but with different transaction dates. 

“We noted over 20 000 occurrences of duplicate cheque numbers in the analysis,” reads the analysis in part.

 

{pdf=http://maravipost.com/Malawi_cashbook-audit-report.pdf|680|300|google}

Exit mobile version