Wednesday, October 28, 2020

BPL engages forensic auditors

ADM finance forensic services, a South African forensic company has been roped in by the Botswana Premier League (BPL) board to audit its finances. This comes as the BPL tries to unravel the mystery surrounding its descent in to debt which led to the suspension of the league’s Chief Executive Officer (CEO) Bennett Mamelodi.

ADM has already agreed terms with the BPL board to assess current processes, procurements and controls within the BPL. ADM will this week start sniff around for possible discrepancies, weakness and misappropriation of organisational assets.

The firm has indicated that their primary objectives will be to identify internal control weakness and to make recommendations on how to improve existing controls. ‘’We intended to supply management with evidence of dishonesty if identified during the investigation. We will supply management with a final report, setting out internal control weaknesses and recommend remedial actions.”

ADM has revealed that policies and procedures will be scrutinised to understand the current control within the BPL. This will be done through scheduled meetings with employees if required. ‘’Bank statements, expenses and payments will be assessed in order to identify shortcomings in relation to the BPL scope of investigation. We intend to also revise contracts and sponsorships to detect shortcomings,” said ADM.

BPL board Chairperson Rapula Okaile confirmed the appointment of a financial forensic. ‘’Since next week will be short, the auditing firm might start the job the following week. We believe it is critical for transparency at the BPL offices in terms of financial and contractual matters,” said Okaile.

He explained that although the organisation is going through financial difficulties they have managed to scrounge around to cover expenses of the forensic audit. ‘’It is important that we practice better corporate governance for the growth of the BPL and it should be understood that the auditing firm will then advise on the next move for the organisation to be run better,” concluded Okaile.

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