FULL REPORT: Deloitte Audit Uncovers Massive Financial Irregularities in National Cathedral Project
A comprehensive audit report conducted by global accounting giant Deloitte has laid bare a litany of massive financial irregularities within the controversial National Cathedral Project, sparking widespread public outcry and calls for immediate accountability. The full report, now in the public domain, details concerning discrepancies, questionable expenditures, and a lack of proper financial oversight that has plagued the ambitious national undertaking.
The audit, commissioned amidst growing public skepticism and allegations of financial mismanagement, meticulously examined the project’s financial records from its inception. The findings paint a grim picture of how funds allocated for the construction of the iconic edifice have been handled.
Among the most glaring irregularities highlighted in the Deloitte report are:
- Unaccounted for Funds: Significant portions of funds received, both from government allocations and public donations, reportedly lack adequate documentation to trace their expenditure. The report points to millions of cedis for which no clear trail of disbursement or utilization could be established.
- Inflated Contracts and Payments: Several contracts awarded for various aspects of the project, from architectural design to construction, appear to have been significantly inflated, with payments exceeding market rates for similar services. The audit raises questions about the procurement processes and the rationale behind certain contractual agreements.
- Duplicate Payments and Ghost Workers: The report identifies instances of duplicate payments to contractors and service providers, suggesting a systemic failure in payment verification. Furthermore, there are indications of payments made to individuals or entities that could not be verified as legitimate contributors to the project, raising concerns about potential “ghost worker” schemes.
- Lack of Proper Governance and Oversight: A critical finding of the audit is the absence of robust financial governance structures and oversight mechanisms. The report underscores a weak internal control environment, which created fertile ground for the observed irregularities. Decision-making processes regarding finances were often opaque and lacked transparency.
- Misapplication of Funds: The audit also points to instances where funds designated for specific aspects of the cathedral’s construction were allegedly diverted or used for purposes unrelated to the project’s core objectives, further compounding the financial disarray.
The revelations from the Deloitte audit come at a time when public trust in major national projects is already fragile. The National Cathedral, envisioned as a symbol of national unity and faith, has been a subject of intense debate, particularly concerning its funding and perceived lack of transparency.
The release of this full report is expected to intensify calls from civil society organizations, opposition parties, and the general public for swift and decisive action. There is a growing demand for a thorough investigation into the individuals and entities responsible for these financial malpractices, with many advocating for prosecutions and the recovery of embezzled funds.
The government and the National Cathedral Secretariat are now under immense pressure to address the damning findings of the Deloitte audit and restore public confidence in the project’s integrity. The coming days will undoubtedly reveal the extent of the fallout and the measures that will be implemented to rectify these massive financial irregularities.
Source: http://thepressradio.com
