Ex- BERA Board members sue for P14 million

Board members of the Botswana Energy Regulatory Authority (BERA) have brought the Authority before the High Court in a case that is projected to cost the Authority more than P14 million. The cause of the dispute between the Authority and its former board members remains unclear. However, the latest report from the Auditor General reveals that BERA board members resigned en masse shortly after their appointment. [ihc-hide-content ihc_mb_type="show" ihc_mb_who="1,2,3,4" ihc_mb_template="1" ] According to the report, BERA auditors have identified two cases involving three former board members that are currently pending in the Courts of Law. These cases are awaiting hearings and final judgments. The auditors highlighted that if the Courts rule in favor of the former board members, the Authority would face an estimated liability of P14,790,716, as disclosed in the financial statements. According to the report, BERA auditors observed that as part of the client reacceptance and anti-money laundering policies, there was a turnover of board members. Some members resigned from their positions within three months of their service. The report says that BERA auditors also revealed that senior management positions that were vacant were yet to be filled. “The filling of the other vacant senior management positions had been delayed by the ongoing review of the organisational structure,” the report says. The auditors also noted a case between the authority and one of its service providers. It was noted that in the event that Courts ruled in favour of the service provider, BERA would incur an estimated liability of P1 138 147 which had been disclosed in the financial statements. The Auditor General’s report also indicated that the board directed management to undertake a review of the organisational and pay structures of the Authority. The tender was awarded to a consultant effective 19th April 2021 at a sum of $ 195,000. The report says BERA auditors revealed that $ 43,600 was paid to date for services rendered by the consultant being completion of phase 2 out of 6 phases as per the agreement. The auditors noted that due to project delays, one of the former board members had raised doubts about the awarding of the tender, the management had engaged with the consultant for their negotiations. The board later resolved that there be an audit undertaken on the organizational development consultancy project. The auditors cited an invitation to tender dated 13 July 2022. The main objective of the forensic audit was to review the procurement process of the tender awarded and cover the role of the board and management, during implementation of the project from commencement. The auditors further noted that the invitation to tender for forensic audit was reissued on 22 August 2022. The report says as per discussion with the board on 21 st September 2022, the auditors noted that management was not aware of any change in the scope of the forensic audit or any reason why the tender was reissued. The Auditor General’s report also expressed concern about the possibility of undetected fraud due to post-dating of journals. Citing BERA auditors’ report, the Auditor General revealed that a sum of P22 053 721 was posted between 30th April 2022 and 31st August 2022 which was subsequent to the period end. It was noted that journals were mostly relating to payroll costs and depreciation of property, plant and equipment. The auditors stated that enquiries with management revealed that the review of account balances and reconciliations of the accounts for the period under review was performed subsequent to the period's end. According to the Auditor General, BERA auditors noted that the above might create the possibility of fraud and error which might be difficult to prevent, detect and control well on time. “Management acknowledged the risk caused by untimely reconciliations and committed to ensuring that reconciliations would be done in a timely manner,” the report says. [/ihc-hide-content]

Orange Phikwe Marathon delivers millions for town

CEDA backs Beyond 40 Walk

FIRST CAPITAL BANK BOTSWANA OFFICIALLY OPENS IT’S INAUGURAL FCB PADEL CUP

Orange backs Letsile Tebogo’s cancer foundation

Beyond 40 Walk seeks corporate backing

HSNV backs Tati River tournament as Francistown targets sports tourism

Orange Phikwe Marathon delivers millions for town

CEDA backs Beyond 40 Walk

FIRST CAPITAL BANK BOTSWANA OFFICIALLY OPENS IT’S INAUGURAL FCB PADEL CUP

Orange backs Letsile Tebogo’s cancer foundation

Beyond 40 Walk seeks corporate backing

HSNV backs Tati River tournament as Francistown targets sports tourism

Ex- BERA Board members sue for P14 million

Navigation

Recent News

Site

Welcome Back!

Create New Account!

Retrieve your password

Not enough quota to unlock this post

Are you sure want to cancel subscription?

Ex- BERA Board members sue for P14 million

This content is locked

Navigation

Recent News

Site

Welcome Back!

Create New Account!

Retrieve your password

Not enough quota to unlock this post

Are you sure want to cancel subscription?