– GGMC, NICIL, GRA among first batch of agencies to be inspectedBy: Kiana WilburgCabinet has given the green light for forensic audits to be conducted in 30 state agencies, nationalJunior Finance Minister, Jaipaul Sharmaprojects and private accounts.Finance Minister, Winston Jordan told Kaieteur News, yesterday, that he has placed Minister within the Ministry of Finance, Jaipaul Sharma, in charge of organizing the teams to conduct the forensic audits which are likely to start this month.He said that Government will be going after the “big fish” which have been listed among the first batch of agencies to be audited. These include the National Industrial and Commercial Investments Limited (NICIL), the Guyana Geology and Mines Commission (GGMC) and the Guyana Revenue Authority (GRA).Jordan said that the audits are being conducted to determine how the assets of the state were sold, disposed of or transferred under the previous administration.The forensic auditing team will comprise “highly qualified and competent officials skilled in this sort of exercise,” the Finance Minister expressed.Sharma said that in all the government hopes to achieve with the forensic audits, it must be accompanied by “effective financing.”He noted that for the time being, funds have not been earmarked. He said this will come after he has organized the “high profile” team.The Junior Finance Minister said that funding is also expected from the international donor community which has expressed a keen interest in seeing Guyana improve on transparency and accountability.GRA Head,Khurshid SattaurAt the moment, Sharma said that he is looking at a number of persons and local accounting firms, the services for which Government may contract for the audits.He added, “But in doing all this, we have to ensure that we manage our accounts… the Consolidated Fund is in heavy overdraft. These are a lot of audits we have to do. But apart from ascertaining what assets of the state were transferred, sold or disposed of illegally,Cheap Jerseys From China, the forensic audits will aim to find these hidden bank accounts.“One of the things we want to do is find those hidden revenues from some of these agencies and transfer them to the Consolidated Fund.”While he steered clear of naming some of the accounting firms up for consideration, Sharma did note that they would love to work along with Chartered Accountant, Chris Ram.He said, “Ram is out of the country right now. When he returns next Tuesday or Wednesday,Wholesale NFL Jerseys China, we will be speaking with him. We would love his help. We would love to work along with him given his expertise and knowledge on several agencies.“But remember, I said we are concerned about being cost effective here. After all, we do have our 100 day plan that needs to be achieved.”“Additionally, when asked to name other agencies and projects that have been identified to be audited first he said, “I don’t want to say at this time. We have to be very careful with this.NICIL Head,Winston Brassington“NICIL is an obvious big fish we will go after but I would not want to list the rest. We don’t want a reoccurrence of what took place at the Ministry of Communities where there was an arson attempt.”The APNU+AFC government will not be leaning on the country’s audit office for any help.Auditor General, Deodat Sharma, disclosed that the Ministry of Finance has chosen to do independent audits.“They will not be using our services. They want to do it independently. I guess they want to show that it is going to be more credible that way. It is not like the Audit Act restricts them to using us.”`There are concerns however that the Finance Ministry may be overwhelmed by the responsibilities of ensuring that many of these forensic audits are carried out.But Chartered Accountant, Anand Goolsarran, said that once Jordan and Sharma are supported by a team of competent and dedicated officials to carry out the proposed forensic audits, “They would not be overwhelmed.”Goolsarran said that Government’s choice to go with “local resources” will be preferable because of the needed knowledge of the local situation and the desire to have quick results.“Perhaps, three to four assignments could be undertaken at a time and the results presented to Parliament. If each assignment takes roughly one month, in eight months’ time the exercise will be over,NFL Jerseys Outlet,” the former Auditor General expressed.He added, “However, the arrangement to contract services outside those offered by the Audit Office is a more expedient option, especially since the political Opposition, the People’s Progressive Party, is yet to confirm whether it will be taking up its seats in the Eleventh Parliament.”While there have been several contentions over GGMC funds, the Finance Minister made it clear that everything wi