Addressing statements made by Auditor General's Office yesterday, Muaz stated that old company documents are lost, assuring no information required by any institution will be withheld. He said that locating old documents is delayed because some are misplaced.
Managing Director of Fenaka Corporation Limited, Muaz Mohamed Rasheed stated last night that old company documents are lost.
In response to statements made by the Auditor General's Office at parliament's Public Accounts Committee yesterday, Muaz affirmed on social platform X that no information required by any institution will be withheld. He attributed the delay in locating old documents to the misplacement of some.
Elaborating further, he shared with Mihaaru News that the lost documents consist of financial communications. This includes:
- Payment vouchers related to M Square Solutions
- Payment vouchers related to Laamu atoll Maamendhoo ice plant
- Petty cash information on trips made by Managing Director in 2022 and 2023
- Information on petty cash given to the Projects Department in 2022 and 2023
Muaz assured that efforts are ongoing to locate these documents, adding that all documents linked to cases - besides those lost - have been provided to the Anti-Corruption Commission (ACC).
The Auditor General's Office revealed at the parliament committee yesterday that some government offices and companies withhold documents required for audit purposes, giving Fenaka, which currently faces multiple corruption allegations and has not provided any documents to the office since 2021 as an example.
Meanwhile, Deputy Speaker of the parliament and MP of Dhiggaru constituency Ahmed Nazim said that the 2021 audit of Fenaka did not show any major concerns.
However, the company fell into MVR four billion in debt since then and it all happened on Auditor General Hussain Niyazi's watch, Nazim accused.
In response, Niyazi said that previous financial audits highlight procurement issues within companies such as WAMCO and Fenaka and pointed out that Fenaka has not prepared or provided its financial documents to the Audit Office even in the last two years.
Assistant Auditor General Ibrahim Fazeel said that the office reviews audits when external auditors submit the reports. However, Fenaka's financial statements have not even been provided to the external auditors, he explained.
"We are still yet to receive the 2021 financial documents. Even the external auditor has not received it. Once that is done, we can review - that's how it is done," he said.
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