The Swaziland Government
Treasury Department bank accounts have a shortfall of E5.1 billion (US$360
million).
Independent auditors fear
there may have been fraud, misappropriation and embezzlement.
A forensic report
undertaken by Kobla Quashie Consultants found the shortfall between what was in
the bank accounts and other financial records.
The Times of Swaziland, the
only independent daily newspaper in the kingdom where King Mswati III rules as sub-Saharan Africa’s last
absolute monarch, reported that, ‘this has put the spotlight on wholly
unacceptable banking reconciliation systems at the Treasury Department’.
The newspaper quoted Kobla
Quashie saying, ‘It should be stated that the amounts noted as differences are
so significant that it renders the annual treasury accounts submitted to
Parliament and other government agencies inaccurate and misleading.’
It added that the suspected
reconciliation was done for the sake of ‘administrative convenience’ and had ‘created
doubt over the entire process, but has also opened a window for fraud,
misappropriation and embezzlement’.
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