Fiji Time: 3:49 PM on Saturday 2 July

Fiji Times Logo

/ Front page / News

Provincial council wants audit

Luke Rawalai
Saturday, May 24, 2014

THE Bua Provincial Council has agreed to the auditing the accounts of the Bua Provincial Investment Company, which has just completed its eighth month of operations.

This follows the presentation of the company's financial report during the council meeting on Wednesday.

Speaking at the meeting, company representative Jo Tuinaosara said the company would need an extra $80,000 apart from the original funding it was given to start the provincial investment. Mr Tuinaosara told the council it was an investment and like any other business deal, there were risks to consider.

He told the council the majority of the money from the initial funding was used on the company's gravel extraction licence initiative, including other business dealing that its sister company — the Bua Provincial Investment Limited — undertook.

Responding to the report, Tui Wainunu Ratu Orisi Baleitavea said none of the financial statements submitted to the council were genuine and that an audit needed to be done on the expenses incurred by the company.

Ratu Orisi said it was appropriate for an audit to be carried out to ensure the money was not used negligently.

The council has ordered that an audit be conducted.

Council chairman Alipate Radrodro had earlier told the council the Ministry of iTaukei Affairs was also asking for an audit of the company accounts.








Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Westpac
Code Inward TTs Outward TTs
CAD 0.63070.6117
JPY 51.031748.0317
GBP 0.36550.3575
EUR 0.43960.4276
NZD 0.69010.6571
AUD 0.65750.6325
USD 0.48980.4728

from

$0.00

Exchange Rate updated on 1st July 2016

Today's Most Read Stories

  1. Fiji ready
  2. Dakuwaqa fights for sevens spot
  3. Average of 10 people missing every week
  4. Ratu Kinijoji laid to rest
  5. Super Rugby: Attempts made to beat ticketing system
  6. $150k for runway
  7. AFL to identify airport location
  8. Nath clears air on Bill translation
  9. $1.4m dividend for State
  10. Cultural exchange

Top Stories this Week

  1. Prayer for a spouse Thursday (30 Jun)
  2. Early morning catch wows crowd at Labasa fish market Tuesday (28 Jun)
  3. Home on a mission Wednesday (29 Jun)
  4. Hayne jets out Friday (01 Jul)
  5. Monster fish halts traffic Wednesday (29 Jun)
  6. Body parts Tuesday (28 Jun)
  7. INTERPOL assists with Natadola gruesome discovery, missing couple Monday (27 Jun)
  8. Nowhere to turn to Wednesday (29 Jun)
  9. Chief for a day Friday (01 Jul)
  10. A blessing in disguise Monday (27 Jun)