FENAKA has not provided financial statements since 2021: Auditor General's Office

State owned enterprise FENAKA has not provided Auditor General's Office with any of its financial statements since 2021, the office revealed today.

Speaking at the Public Accounts committee of the parliament, 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.

The Auditor General's Office also revealed that several other agencies have also been withholding documentation needed for its work from the office. As such, the commission requested the parliament to remedy the issue considering some agencies refuse to share the documents claiming the information is legally classified.