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Showing posts with the label audits

Post-Chuseok Audit Convenes Celebrities and Industry Leaders

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Introduction to the National Audit Process The first national audit under the Lee Jae-myung administration is set to begin on the 13th. This process involves various committees of the National Assembly, which have once again invited celebrities, cultural and artistic figures, and sports industry officials as witnesses and reference persons for this year’s audit. Additionally, individuals involved in incidents that have drawn public attention are also included in the list of those summoned. Witnesses and Reference Persons from Different Sectors Famous YouTuber Tzuyang and his attorney are expected to appear as reference persons at the Science, ICT, Broadcasting and Communications Committee audit. Their role will be to discuss the harm caused by “cyber vultures.” Yang Chi-seung, a well-known health trainer who had to close his gym due to fraud related to private donation receipts, has been included in the list of reference persons for the Administrative Safety Committee and the Land,...

Integrating Forensic Standards into Governance Operations

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The Need for Evidence-Based Governance in Nigeria In the realm of Nigerian governance, there is a persistent gap between grand promises and tangible results. Budgets are passed with optimism, policies are announced with confidence, and projects are launched with great fanfare. However, the outcomes often fall short of expectations. What has long been missing from the government's machinery is not good intentions, but verifiable accountability. A system where every Naira spent is linked to measurable progress and where public confidence is built on evidence rather than rhetoric. This credibility gap is neither accidental nor new. In 2023, the Office of the Auditor-General for the Federation (AuGF) reported that over N300 billion remained unaccounted for across federal government Ministries, Departments, and Agencies (MDAs). Similarly, Transparency International ranked Nigeria 140th out of 180 countries on its Corruption Perception Index, despite the existence of fiscal laws and ov...

AGP Reveals Rs2.536 Trillion Embezzlement in PSE Accounts

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Major Financial Irregularities Found in Public Sector Enterprises The Auditor General of Pakistan (AGP) has uncovered significant financial irregularities within the accounts of Public Sector Enterprises (PSEs) under the control of the federal government. These issues include embezzlement, misappropriation, and non-recovery of funds amounting to Rs2.536 trillion. The findings were detailed in the audit report for the 2024-25 fiscal year, which highlights various areas of concern across multiple sectors. Key Findings from the Audit Report The Directorate General of Commercial Audit and Evaluation (North and South) is responsible for auditing and evaluating these enterprises, which maintain their accounts on a commercial basis. The audit revealed several critical issues: Embezzlement/Misappropriation: 18 cases were identified involving Rs3,576.262 million. Irregularities in HR/Employee Matters: 134 cases were noted, totaling Rs16,965.690 million. Mis-procurement: 137 cases were...