Sunday 21 July, 2019

PWC report on TSTT preferential treatment expected soon

Price Waterhouse Coopers (PWC) is expected to deliver a report within a week's time following an audit into alleged preferential treatment in the award of dealership contracts by TSTT to two companies. 

This is the third inquiry into the matter which was first the subject of an internal investigation by an audit committee in 2013, then again by the board of TSTT the following year.

Responding to a question posed by Opposition Senator Wade Mark in the Senate on Wednesday about the timeframe for a forensic audit, Public Utilities Minister Robert Le Hunte indicated that PWC had been contracted to conduct the latest independent assessment in February this year in light of new information. 

Le Hunte said the assessment will include a review of all prior internal investigations, all information relevant to the matter, and new information obtained subsequent to the conduct of the internal investigations.

The Minister said PWC was expected to submit its report in six to eight weeks time, but it's now around the seventh week, and in his checks with the company they had not yet submitted the report. 

"I think they will be able to submit the report within the timeframe that I mentioned in my answer six to eight weeks time."

Asked whether the sitting CEO was suspended during the duration of PWC's audit, Le Hunte said after the initial inquiry he had been promoted, and upon the subsequent review the board found that the allegations made were unfounded.

"As an additional caution, they have asked for an independent PWC to review all facts including the decisions that were taken by the previous government's recommended board and in light of that there was no need to take any actions against the particular sitting CEO," Le Hunte replied.

He could not provide a cost for the contract with PWC for the conduct of inquiry, but said he could provide same if the proper question was posed. 

The board of TSTT will be guided by the findings and recommendations of the report. 

Get the latest local and international news straight to your mobile phone for free: