Latest news with #financialirregularities
Free Malaysia Today
6 hours ago
- Business
- Free Malaysia Today
Govt to set up special task force to address financial irregularities
Prime Minister Anwar Ibrahim said the decision to set up the task force was made during the special Cabinet committee on national governance meeting today. (Facebook pic) PETALING JAYA : The government will be establishing a special task force to address financial irregularities, Prime Minister Anwar Ibrahim announced today. Anwar, who is also finance minister, said the decision to set up the task force was made during the special Cabinet committee on national governance meeting today. 'As part of efforts to strengthen the role of the national audit department through amendments to the Audit Act 1957, the meeting agreed to establish a task force to address serious irregularities,' he said in a Facebook post. During the meeting, he stressed the importance of addressing audit findings related to financial irregularities that could undermine the country's fiscal management. He said the new task force will ensure that follow-up actions are more holistic, targeted and have high impact, in keeping with the principles of accountability, transparency and integrity. Last month, Auditor-General Wan Suraya Wan Radzi said the amended Audit Act, which came into force last year, empowers the department to conduct audits on 1,856 GLCs. She was quoted as saying the amendment expands the department's scope, thereby strengthening the government's oversight of governance and financial management within GLCs. The changes include the expansion of the auditor-general's powers to include audits of entities receiving government financial guarantees, by introducing the 'follow the public money' audit approach. Wan Suraya said, moving forward, all GLCs would be held accountable for any irregularities identified in the auditor-general's report. She highlighted that the committee responsible for following up on actions taken based on the auditor-general's report had uncovered several instances of leakages in state and federal financial statements, which are now in the process of being recovered. She added that beyond the recovery of public funds, the audit process aims to determine whether serious irregularities, governance lapses or systemic failures have occurred.
New York Times
5 days ago
- Business
- New York Times
Brescia relegated to Serie C after points deduction, Sampdoria in relegation play-off
Brescia have been relegated to Italy's Serie C after being deducted four points for financial irregularities, meaning Sampdoria will now take part in a relegation play-off game, despite finishing the season in the relegation places. Frosinone, who were originally scheduled to play Salernitana in the play-off on May 19, move up one place as a result of Brescia's docked points and are now safe from relegation. Advertisement Three teams are relegated automatically from Serie B, with 16th and 17th contesting a relegation play-off. The Italian football watchdog has been investigating financial irregularities at Brescia, throwing the conclusion of the Serie B season into chaos. The investigation was related to an irregularity in their payment of salaries and tax contributions in February. Covisoc — Italian football's supervisory body — informed the league of the investigation five days after the conclusion of the regular season and the play-off was postponed amid the uncertainty. Brescia originally finished 15th in Serie B on 43 points. Having been found to have breached the rules, their four-point deduction takes them into 18th and into the automatic relegation places. This moves previously-relegated Sampdoria into the relegation play-off, where they will take on Salernitana, and guarantees Frosinone's Serie B safety. Sampdoria have never played outside the top two divisions of Italian football in their 79-year history. Brescia have also been handed a four-point penalty for the 2025-26 season. Brescia most recently played in Serie A in 2019-20 and are owned by former Leeds United owner Massimo Cellino, who, alongside his son and board member Edoardo, have been handed a sixth-month ban. Following the announcement of the investigation, Brescia released a statement reading: 'Brescia announces that it will appeal to any sporting and non-sporting body to protect its position, believing that it has correctly complied with the federal deadlines.' (Image)
New York Times
20-05-2025
- Business
- New York Times
Serie B left in limbo as Brescia financial investigation hands Sampdoria, Frosinone possible relegation reprieves
The conclusion of the Serie B season has been thrown into chaos due to an investigation into financial irregularities at Brescia by the Italian football watchdog. On Sunday, five days after the conclusion of the regulation season, Covisoc — Italian football's supervisory body — informed the league of the investigation into Brescia, who could be levied with a four-point deduction if they are found to have breached the rules. Advertisement That potential deduction, subject to an appeal which the club have pre-emptively confirmed, would relegate Brescia, hand a play-off reprieve to previously-relegated Sampdoria and confirm Frosinone's safety above the play-off spot. The league's scheduled relegation play-off between Frosinone and Salernitana has been postponed amid the uncertainty and no teams or dates will be confirmed until a final legal decision is reached. Around 700 Brescia fans protested on Monday against club chairman and former Leeds United owner Massimo Cellino, the FIGC (Italian Football Federation) and Serie B, leading to security being stepped up at the club's training ground and headquarters as well as at Cellino's house, per La Gazzetta dello Sport. 'Following the disturbing news reports that emerged today and the conclusion of the investigation conducted by the FIGC into alleged irregularities in payments,' a Brescia statement on Sunday read. 'Brescia announces that it will appeal to any sporting and non-sporting body to protect its position, believing that it has correctly complied with the federal deadlines.' Brescia, who most recently played in Serie A in 2019-20, are subject to the potential points deduction over an irregularity in their payment of salaries and tax contributions in February. Three teams are automatically relegated from Italy's second division, with the 16th- and 17th-place sides contesting a play-off to avoid the final relegation spot to Serie C. The regulation season, which ended on Tuesday, had seen Cosenza (30 points), Cittadella (39) and Sampdoria (41), the 1992 European Cup finalists, all automatically relegated, with Salernitana (42) going into the relegation play-off against Frosinone (43). However, a potential points deduction for Brescia — who finished on the same points tally as Frosinone but above them in the standings courtesy of a superior goal difference — would put the club onto 39 points, meaning Sampdoria move into the play-off zone while Frosinone would be safe. Advertisement Salernitana had been due to host Frosinone in the first leg of the play-off on Monday, May 19, with the return leg the following week but both matches have now been postponed amidst the uncertainty. Sampdoria have never previously played outside the top two divisions of Italian football, with the Genoa-based club's glory days coming in the early 1990s. Sampdoria reached successive Cup Winners' Cup finals in 1989 and 1990, the latter of which they won, while they were crowned Italian champions in 1991 and were defeated by Barcelona in the European Cup final at Wembley the following year.
The Guardian
13-05-2025
- Politics
- The Guardian
University of Greater Manchester suspends vice-chancellor amid investigation
The vice-chancellor of the University of Greater Manchester and two other members of staff have been suspended as police confirmed an investigation is under way into 'allegations of financial irregularities'. The university, which was known until recently as the University of Bolton, confirmed that Prof George Holmes, who has been its vice-chancellor for 20 years, the provost and a third senior member of academic staff have been suspended. 'These suspensions are a precautionary measure and do not imply any assumption of guilt,' a statement from the university said. 'The university has taken this step to ensure a fair and transparent process.' The university, which has nearly 11,000 students, gave no further details. A police spokesperson said: 'Greater Manchester police can confirm an investigation has been launched into allegations of financial irregularities at the University of Greater Manchester. 'This follows a review of allegations published in The Mill [an independent news site] and subsequent PricewaterhouseCoopers(PwC) report commissioned by the university's fraud response panel.' An interim leadership team has been put in place, led by Dr Greg Walker, pro vice chancellor (academic) who assumes the role of acting vice-chancellor and interim accountable officer while the investigation is under way. In an email to staff, the chair of the university board, Prof William Morris, said: 'These suspensions are a neutral step, taken to protect the integrity of the process and to allow a full and fair process to take place. 'As this is a live investigation, we are limited in what we can share at this stage, but we are committed to keeping you informed appropriately and transparently. 'We understand this news may be concerning. Please be assured that the university's core functions and academic activities will continue without disruption.' In March, Lucy Powell, the leader of the House of Commons, told MPs that police and the higher education regulator for England, the Office for Students, were looking into allegations at the university. Phil Brickell, the Labour MP for Bolton West, asked Powell to give MPs time to debate allegations that had emerged from whistleblowers and detailed reporting by The Mill, claiming racism, financial misconduct and bullying at the university. Brickell said on Tuesday: 'We need to let the investigation run its course. I will continue to monitor developments closely and engage with the university and relevant authorities in order to ensure the university best serves its students, staff, the people of Bolton and it's surrounding communities.'
