Forensic auditor being sought to probe former BVIAA board, operations
A forensic auditor is being hired to solve what Premier Andrew Fahie has described as the latest mystery surrounding the BVI Airport Authority (BVIAA) and the alleged mismanagement of funds by its former board.
The forensic auditor is being hired by the new board of the BVIAA.
“Based upon the issues involved in this matter, the BVIAA believes the review will require the assistance of a qualified forensic accountant and an integrated team of accountants to analyze the books, records and policies of the Authority,” the BVIAA has said in a job advertisement for the auditor.
The Authority said these areas include completing “a comprehensive review and reconciliation of fiscal years 2014, 2015, 2016, 2017, 2018 fund accounting practices complying with generally accepted accounting principles, determine the efficiency, effectiveness and productivity of the Authority by reviewing existing controls, and compliance with these controls, conduct factual investigation, including interviews, and document review to determine that the BVIAA complies with all guidelines and requirements pertaining to all aspects of Airport Act, 2003”.
The forensic auditing team will also be tasked to identify areas of risk fraud and misconduct, recommend improvements and best practices, assist with policies and procedures as they pertain to all aspects of the conduct and management of the finances of the Authority, including but not limited to financial reporting, conflict of interest and procurement.
The upcoming probe follows Premier Fahie’s recent claim that the former BVIAA board spent some $5 million intended to develop the runway at the TB Lettsome International Airport to instead pay salaries and operational costs.
Mystery
Answering questions from BVI News recently, Premier Fahie said they are yet to discover why the former board would have had to misappropriate the funds to pay their employees.
“Those issues remain a mystery to all concerned … We will have to wait to find out the results [of the forensic audit] which should give the answers to your questions, among other concerns,” Fahie told BVI News.
Fahie, who is also the minister responsible for airports, further noted that as a statutory body, the BVIAA receives an annual subvention from government to supplement their revenue earnings.
The value of that subvention is not immediately clear.
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Kedrick & NDP ran the airport to the ground. They were only interested in the chineses.
It is a shame how the previous government neglected the airport.
Don’t forget to look into that bogus $7.2 mill plane.
BVIAA hiring forensic auditors and what exactly is the BVIPA doing about the pier park? Value for Money (VfM) was not achieved on this critical project with too many unexplained variables! Then there’s the Airport expansion fiasco, Brandywine Bay beach mess and waste of public funds. The road paving projects that have yielded not so palatable results; especially after the rains experienced. The cost to refurbish EHS ($1mill/floor) is astronomical considering the new-build cost(s). We still do not have a functioning PUBLIC library for use by the community!! But we had monies for CSC after-school programs that yielded what results exactly for the costs?
Yet all the former rhetoric about ‘first class’ this and that – gtfoh with all the smoke screen BS. How much rent is central government paying out to affiliates? Crony contracts that are given out behind closed doors under the guise of expediency – only in the BweEye….
Andrew and crew – where’s the Whistle Blower Protection Law you campaigned on and now seems to have pushed aside? Two years after IrmaMaria and the place still looks untouched in areas. What the heck is really going on bigman? Selective amnesia at play or wha?
We will never hear nothing about the ports because CSC is deeply involved
Dig away, set this right!
Why in the world the Premier doesn’t stop playing his political games with people’s reputation.
If the airport was so bad then why appoint Mrs. LUCE HODGE-SMITH who doesn’t have any aviation experience?
Why not tell the people the airport is a ghost town and is not sustainable given its low passenger movement?
Is she the Deputy Managing Director at that? Ting to talk.
This makes sense. I think we need to focus on what is needed to make the Airport a viable operation, vs blaming people for spending money. The Airport is bloated with staff and other operations, what are they really doing up there with a few little planes coming and going daily? Everyone kicked up against the airport extension but it’s becoming more and more real that the Government and the people of the Territory have two choices. Continue as is and Government will have to continue paying a huge subvention to the Airport or we explore the extension/privatisation model where it can cover its own expenses. There’s no third option and we need to wake up and realize what is happening around us. All the smaller islands have Airports that accommodate flights direct from Miami and other Airports so having the small aircraft as the only option puts us as a big disadvantage. Fahie said he is unconventional and I would love to see him find an unconventional way of turning the airport around. It’s heavily staffed and not making enough for its operations, why would you need a forensic audit to tell you that?
The cuban paid wilson and tombay salaries out of that 5 million dollars
And the big one never spend a day doing what he was commissioned to do.
Maybe it’s time to sell the Beef Island airport to a private company, like Branson’s Virgin Airways, and let them operate it?
Please don’t tell me that the BVI Blimp Company is just around the corner.
even after the NDP corruption is found no one will go to jail so its another waste of money for the forensic audit
Sort the ferries from St Thomas and do immigration on board. Lease a dedicated terminal next to the airport in St Thomas. Coordinate ferry departures with flights. Get high quality new boats. All a fraction of what the new EIS would cost. Is that why it’s not being done?