LPRC, LEC, Finance in Audit Hearings

first_imgThree government functionaries are expected to face public hearings about audit reports from the General Auditing Commission (GAC), the Public Accounts Committee (PAC) of the Legislature has announced.Liberia Petroleum Refining Company (LPRC), Liberia Electricity Corporation (LEC) and the Ministry of Finance have all been invited to appear before the Joint Legislative Committee to answer to questions about alleged financial malpractices at their respective institutions.According to a statement issued by the PAC, the hearings begin with the Ministry of Finance on May 21-26, 2014 on several different financial matters ranging from Fiscal Outturn in 2008, Consolidated Financial Statement 2010-2012 to the Ministry’s Duty Free Program from 2006-2009. PAC further that the Ministry will account for an alleged L$22 million missing check from government coffer while the Administration and Expenditure from 2005-2007 of the Ministry remains unaccounted for.Current and former ministers, deputies and assistants including comptrollers of the entities mentioned have all been requested to attend, the statement said.Relative to LPRC and LEC, the statement maintained that LPRC management needs to address itself to a debt statement of 2006-2008 involving MOTC and the company. LEC is also expected to explain financial transactions linking the entity to malpractices as indicated by the GAC.   PAC has conducted hearings on several government entities including National Port Authority, Robert International Airport, Ministry of Gender and Development among others.Recommendations from previous hearings are expected to be validated by both plenary of the Legislature in order to be submitted to President Ellen Johnson Sirleaf for actions.The PAC received a budget support of US$500,000 from the World Bank to conduct public hearings on all audit reports submitted to that body by the GAC.Many financial experts now question the independence of the committee when majority of its members are either senior partisans affiliates of the ruling Unity Party.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more