Coup Four Point Five has been told the illegal junta advanced Deloitte $1.6million in cash to audit the Natadola project accounts. The company wanted to be paid in advance because it feared it might encounter similar payment problems that Ernst & Young had encountered in 2007.
A team of forensic accountants from the Australian branch of international firm Deloitte are investigating the controversial past Fiji National Provident Fund (FNPF) deals. According to Aiyaz Sayed Khaiyum, the Deloitte team have been brought in by the current FNFP Board to investigate without fear or favour.
How can the team investigate without fear or favour when, in fact, Coup Fourpointfive has found out, that Deloitte (Fiji) was auditors for APRIL, NLH, NBRL and YBRL (All companies involved in Natadola) at the commencement of the project?
Deloittes was part of the APRIL team that sold the idea to FNPF to invest in Natadola. In 2007, when the new FNFP Board came into the scene, Deloittes for some reason handed over all accounts and documents in their custody to APRIL.
The Board had to institute legal action to recover the documents which was partly recovered when the appointees themselves were removed from the Board. As a result, the 2007, 2008 FNPF accounts were qualified. The mess took place when Deloittes were in charge.
Sayed Khaiyum had told a news conference that the current board had written down the FNPF’s assets to reflect the true value. Anyone found responsible, he said, for breaching any law would be prosecuted. He revealed the write off included $301 million from the Natadola Bay project and $18 million from the Momi Bay project.