Saturday, June 22, 2024

Grant Thornton and five others get contract to audit domestic debt

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The Zambian government has hired six companies including Grant Thornton to evaluate “the process related to accumulation and audit of the public domestic arrears that its various institutions owe suppliers of goods and services.

Hakainde Hichilema was Chief Executive Officer of Grant Thornton Zambia until January 2002.

The Ministry of Finance and National Planning said in a statement that other hired firms are EY Advisory Services, PwC, Client Focus Solutions Chartered Accountants; CYMA Chartered Public Accountants and Management Consultants and Mark Daniels Chartered Accountants.

Areas of focus include value-added tax refunds, fuel arrears, farmer input-support program arrears, salaries and road contract arrears and General Goods and Services arrears.

The exercise is to take two months to complete and at the end of which the consultants are expected to submit their final reports.

The Ministry of Finance and National Planning and the Office of the Auditor General, has successfully completed tender processes for engagement of independent consultants for evaluation of the process related to accumulation and audit of the public domestic arrears that various institutions owe suppliers of goods and services.

This step, aimed at complimenting the Government’s audit efforts with the services of independent consultants, is necessitated by the urgent need to re-assess the correctness of the figures owed by different Government entities.

To facilitate the immediate commencement of the auditing of the public domestic arrears – following the completion of the competitive tender process – the six firms have successfully been awarded contracts.

Minister of Finance and National Planning Dr. Situmbeko Musokotwane is pleased that the assignment to audit the public domestic arrears will not only verify the said debt obligations in relation to the processes and utilization of public finances, but also establish whether the Government obtained value for money.

This is according to a statement issued by the Ministry of Finance and National Planning.

22 COMMENTS

  1. And who was once CEO of grant Thornton? We told you that hh is a corrupt coon. He is now bringing in those friends from the west who he worked with in stealing and selling our resources for peanuts all for kickbacks. I warned you

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  2. This process is not objective to say the least. Firstly, a lot of these firms were aligned to the PF. One firm there has contributed financially to the PF campaigns in 2011. That said, the best would be to readvertise this. There is also a Partner at one of these firms who is aligned closely with Chris Mvunga, former BOZ governor and PF stooge.

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    • Stop confusing people with unsubstantiated claims, instead of highlighting the truth that’s in plain text, you want to divert people’s attention to feed your feeble mind.

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  3. This will certainly show up PF corruption again and again
    slowly but surely PF will get the last nail in their coffin
    hopefully this will also shut the Imposter up for good when his paymaster stop his funding

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  4. We are on it now GRZ Vs UPND and spectators taxpayers.

    Five years of Mandates starting causing Anguish now.

    Researchers in Toronto just took only 36 microseconds to solve a problem that would take supercomputers and algorithms 9,000 years to figure out.
    GRZ That means we are always going to be behind if we continue the way we are going. Please let’s put our differences Aside.

    GRZ What’s going on?

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  5. Every audit is a welcome move but what dilutes the purpose is the manner the auditors are selected. Auditors aren’t immune to outside influence. So for a mammoth task as the audit of public financial records, the selection process must be transparent in order to enhance the credibility of the outcome. So if this process is rigged and tilted right at the beginning, then Situmbeko is just wasting our time. It’s an exercise in futility and will just cost the Treasury for nothing

  6. HH friends have come to collect their money. By the end this year it will privatization reloaded in full gear. Those people that are still talking PF corruption, it has been 10 months of persecution with zero convictions. There only court conviction that happen are for poor people with defamation of the president cases.

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  7. Dear fellow bloggers and enemies of progress, since 2 hours ago, I am not feeling well. My blood pressure shot up. Pray for me.

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  8. Grant Thornton has always been in Government even before HH became president. They audit all these parastatal companies number one of which I can mention. Zesco

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  9. Dear Imposter sorry you are not well we will pray for a quick painless demise
    And take comfort in death even the most evil ones get praised as heroes and great freedom fighters
    RIP

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  10. Excellent idea !!! we need to know what they supplied to Government before they are paid…some could have provided the proverbial fresh air and want t be the first to get paid.After the 10 years of PF industrial looting and plunder,this is a very crucial exercise otherwise the New Dawn may end up financing PF crooks all over again…. Well done New Dawn !!

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  11. @Kaizer Zulu, but your bp rose since 12 august when you went out of your way to form your 1.8 party of fools? What now, is it the rate on increase of your bp that has changed? More like inflation ayi?

  12. Yes indeed , what happened to the French company that was in advance to negotiate debt? Shouldnt this money be refunded and go to HH and his finance minister and Bank Governer? the three people that have single handedly negotiated our debt with IMF, World and lately China?

  13. I think that frendh firm Lizard , where is lizard guys? and the money that was paid to it?

  14. This would have been worrying if ONLY Grant Thornton was the hired. In this case, all the major auditing firms including GT have been hired. So this story is what falls under the sensationalism category. Just because HH worked for them doesn’t mean that now they cannot get any business from government, that’s just childish. As long as the process of awarding is transparent, there shouldn’t be any problem. Iyi ni Beans!!

  15. 1990s privatisation saw the plunder of national resources,asset stripping and the enrichment of few individuals through a well orchestrated system.The memories are still fresh.

  16. Grant Thornton has been Auditing many parastatal and quasi Government Entities for over ten years including the period under the criminal and Gangster Pf. Until recently, the Road Development Agency (RDA) and Zambia Forestry and Forest Industries (ZAFFICO)where Audited and being Audited by GT.

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