PRESIDENT DUMA BOKO JUSTIFIES DIRECT APPOINTMENT OF FORENSIC AUDIT FIRM.

Article By: Diana Motsu

President Duma Boko has defended the decision to directly appoint Alvarez and Marsal Middle East Ltd, a firm based in the United Arab Emirates, to conduct the forensic audit.

Speaking during press conference yesterday, Boko explained that the company was not selected through the open tendering process. He further emphasized that the open tendering process often leads to delays, high costs, and creates opportunities for corruption. He stressed the need for more efficient ways to procure services and deliver results.

The President noted that the forensic audit, which began yesterday and will cost approximately P55.5 million, will be conducted over a 12-month period. He explained that the first stage, lasting four weeks, will assess the operations, financial performance, and corruption risks within state-owned enterprises and government bodies.

The second stage, lasting up to nine months, will evaluate the efficiency of government structures and policies, with a focus on preventing fraud. The third stage will uncover financial mismanagement and hold those responsible accountable.

The President further stated that the audit will result in a report with findings, recommendations, and action plans to address and prevent future issues.