Latest news with #auditreport
BBC News
18-07-2025
- Business
- BBC News
Ghana govment terminate controversial $97m national cathedral project due to irregularities
Di govment of Ghana don announce say dem don terminate di contract for di controversial cathedral project wey so far don cost $58m. According to statement from di govment minister for communication, one audit by ogbonge company Deloitte don find say di Ghana govment bin dey owe di contractors anoda $39m; even though di project no comot from ground level. In total, di project now bin cost $97m, but dem no even build foundation blocks for di site since. Minister Felix Kwakye Ofosu tok for di press conference say di audit find "ogbonge irregularities wit di payments and di work wia di contractors bin do from 2021 to 2023." "Di former govment don vary di contract wit di contractor and sub-contractors wey cost di kontri plenty money." Wetin govment decide afta di audit report. Di govment of Ghana don announce say dem bin take some decisions afta di report. Di president don direct say make dem do dis tins:
South China Morning Post
16-07-2025
- Business
- South China Morning Post
Audit finds US$21 million financial irregularities in Pakistan Cricket Board
An audit report has found financial irregularities to the tune of more than 6 billion rupees (US$21 million) and governance issues within the Pakistan Cricket Board dating back two years. Advertisement The Auditor General of Pakistan's report for the 2023-24 financial year was published in The News and highlighted the non-recovery of outstanding sponsorship worth 5.3 billion rupees as the major discrepancy identified. PCB chairman Mohsin Naqvi is the third person in four years to lead the sport's national administration, following Ramiz Raja and Zaka Ashraf. He is also a government minister. The report also questioned the 63.39 million rupees (US$220,000) the PCB spent on meals for police and law enforcement personnel assigned for the security of foreign teams during international matches in Pakistan. Auditors said providing security was the responsibility of governments, and disagreed with the PCB's explanation that visiting international teams were given extra safety guarantees that required heavy police deployment. Advertisement The report also flagged the hiring of three junior regional coaches who did not meet the eligibility criteria and the appointment of a media director outside the proper procedure.
CBC
15-07-2025
- Politics
- CBC
Complaint by former Liberal Party president against N.S. auditor general dismissed
A regulatory body has dismissed a complaint by the former president of the Nova Scotia Liberal Party against the province's auditor general regarding a report she completed last year on the misuse of public funds. Joseph Khoury complained to Chartered Professional Accountants Nova Scotia last year after Kim Adair asked the RCMP to investigate a potential "concealment" of the theft of public money by a party employee. A spokeswoman for the accountants' oversight body said it decided on June 10 "to dismiss the complaint in whole" against Adair, though the reasoning wasn't made public. Khoury was the party's president when the theft was discovered in December 2020. He has said the party investigated the theft and recovered the stolen money. He also alleged Adair's report issued in February 2024 was incomplete and that it is defamatory toward him and the Liberals. AG office stands by report However, Adair's office sent an email Monday stating "she stands fully behind the report and the process followed to prepare it." "The report recommendations from February 2024 were accepted and endorsed formally by the legislature's public accounts committee. Also, then Liberal Leader Zach Churchill indicated he immediately acted on the recommendations [to contact the RCMP]." Cindy Bayers, a spokeswoman for the RCMP, said in an email that "the matter remains under investigation." In her report, Adair said her office was aware of "concerning information" that revealed the party tried to hide and delay the matter "until after the 2021 election," which the incumbent Liberals lost to the Progressive Conservatives. It also said the former employee's misuse of travel claims and a party credit card led to the employee's resignation and the reimbursement of more than $194,000 by the employee. The reimbursements were to cover the cost of the missing funds and of the forensic audit that followed. The auditor's report says, "The [Liberal] association's delay in providing information to our office was not in compliance with the Auditor General Act," which gives her office unrestricted access to records of any organization that receives public funding. Then Liberal leader asked police to investigate Churchill, who was elected party leader in July 2022 and resigned after last fall's election loss, supported the auditor general's finding and has said he went to police "and urged them to look into this matter further." Khoury wasn't immediately available for comment. However, last year he sent an email to The Canadian Press saying he believed the auditor general's report was "inaccurate." He wrote that the party immediately took steps to recover the money and ensure it would be "repaid in full" as soon as it discovered funds were missing in December 2020. The steps they took included hiring a law firm and following its advice, he added. The Liberals also hired Deloitte to conduct a forensic examination of the party's computer networks, financial records and other files from previous years, Khoury said. "Contrary to what the auditor general asserts in her report, the independent auditor for the [Liberal] association was completely aware that there were very likely previous years impacted by this loss and that the investigation was being conducted by Deloitte," wrote Khoury. "To do this work properly took time. Simply put, we did not know what the previous years' investigation would unearth. In this area of her report, the auditor general is wholly and unequivocally mistaken or has been misinformed."
RNZ News
15-07-2025
- Business
- RNZ News
Labour and Te Pāti Māori miss deadline for financial statements
Labour and Te Pāti Māori's statements were due at the end of the financial year on 30 June. File photo. Photo: RNZ / REECE BAKER Labour and Te Pāti Māori have both been late in filing audited financial statements to the Electoral Commission. It is another strike for Te Pāti Māori, although the Electoral Commission says the party has assured them this year's and last year's statements will be filed together soon. Labour has filed its financial statements - but not an audit. Their statements were due at the end of the financial year on 30 June. All other parties with that due date - including ACT and National - have filed their financial statements. Electoral Commission manager of legal, regulation and policy Kristina Temel said the commission was continuing to follow up with both parties. "Labour has not filed an audit report for its financial statements. The party contacted us before 30 June to advise that its audit report is taking longer than expected and at this stage we are satisfied with the reasons they and their auditor have given," Temel said. Labour general secretary Rob Salmond said the party was "continuing to work with our audit partners as we transition to a new set of accounting practices" and was "in the late stages of this process". Temel said Te Pāti Māori had not yet filed an audit report, or financial statements "but has told the commission they are being prepared and will be filed soon". "They have also informed us that the outstanding audit report for last year's financial statements will be filed at the same time." As incorporated societies, Labour and Te Pāti Māori are the only parties required to have their financial statements audited under changes to the Electoral Act passed in 2022. Several other parties - including the Greens and NZ First - have a reporting date at the end of September. Police previously issued a formal warning to Te Pāti Māori over the failure to file a complete and audited 2023 financial statement on time. The commission said no decisions had yet been made on whether to refer any of Te Pāti Māori's leadership to police over this year's statements but noted that "under section 210J of the Electoral Act, it is an offence for a party secretary to file a financial statement late or fail to file a financial statement without reasonable excuse". Te Pāti Māori president John Tamihere declined to comment. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Yahoo
26-06-2025
- Business
- Yahoo
Nidec Announces Change in the Scheduled Submission Date for the Securities Report
KYOTO, Japan, June 18, 2025--(BUSINESS WIRE)--Nidec Corporation (TOKYO:6594; OTC US: NJDCY) (the "Company") announced in its "Consolidated Financial Results for the Fiscal Year Ended March 31, 2025 [IFRS]" released on April 24, 2025, that the scheduled submission date for the 52nd Annual Securities Report was June 18, 2025. The Company hereby informs you that this submission will be postponed as described below. 1. Securities reports coveredThe 52nd Fiscal Year Securities Report (From April 1, 2024 to March 31, 2025) 2. Scheduled submission date for the financial results summary for the fiscal year ended March 2025June 18, 2025 (Wednesday) 3. Reasons for changing the submission dateAs previously announced on May 29, 2025, we have not yet received the audit report from the accounting auditor on our consolidated financial statements. The following is an outline of the progress to date:The Company identified an issue concerning trade transactions at NIDEC FIR INTERNATIONAL S.R.L. (located in Italy, hereinafter "FIR"), one of the consolidated subsidiaries of the Company under Appliance, Commercial and Industrial Motors Business Unit of Appliance and Automotive Division. The Company has engaged a third-party expert, experienced in international trade and customs law, to investigate. The Company has recognized potentially erroneous declarations of country of origin for certain motors manufactured by FIR, which may have resulted in unpaid import tariffs. Based on the status report on the investigation received, the Company is proceeding with further internal investigation and consideration of this matter, in collaboration with the third-party a result, the Company has determined that, in relation to the impact on our consolidated financial statements, further audit by the accounting auditor will be required based on the results of the above investigation. The above internal investigations and examination of the impact on the consolidated financial statements and internal controls are ongoing, and the investigations required for the accounting auditor to complete the audit procedure have not been finalized. Consequently, the Company has determined that it will be difficult to issue the audited consolidated financial statements by June 18, 2025, and therefore has decided to postpone the submission of the securities report that was scheduled to be submitted on the same new submission date will be announced promptly, taking the progress into consideration. [Reference]Company outline of NIDEC FIR INTERNATIONAL of headquarters: Via Roma, 19, 26041-Casalmaggiore (CR), ItalyBusiness unit: Appliance, Commercial and Industrial Motors Business Unit of Appliance and Automotive DivisionMain products: Motors and actuators for industrial (construction and renewable energy), commercial (leisure and commercial refrigerators/freezers) and appliance (washing machines and dryers) use (AC, geared and brushless DC motors) and motor-related products (motor components and drive)Sales: 13,873 million yen (fiscal 2024) (Unaudited) View source version on Contacts Teruaki UragoGeneral ManagerInvestor Relations+81-75-935-6140ir@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
