Attorney General of Mozambique hires Kroll to audit debt

7 November 2016

New York-based company Kroll Inc. has been hired by the Attorney General’s Office (PGR) of Mozambique to audit public companies Ematum, Proindicus and Mozambique Asset Management (MAM), according to a statement published Friday in Maputo.

The statement from the Attorney General also said that Kroll was selected from five internationally-reputed companies, and that the audit should be completed within 90 days starting from the date the contract is signed.

“After this deadline, the Attorney General of the Republic of Mozambique shall publicly disclose the audit results,” the statement said.

The statement recalls that preparatory instructions are ongoing in order to verify the existence of criminal offenses, among others, in the process of setting up, financing and operation of Proindicus, Ematum and MAM, which took external loans backed by the State.

Given the complexity of the process, especially because it involves institutions with headquarters abroad, where the main contractual operations were performed, the Attorney General’s Office has requested the Mozambique Government to carry out an audit of all three companies, the statement said.

The government agreed with the International Monetary Fund (IMF) to conduct an international independent audit, under the direction of the PGR, to analyse the financing contracts and the funds obtained, the acquisitions and the identification and analysis of possible irregularities in the management and use of the funds.

Kroll is a global risk consultancy based in New York, founded in 1972 by Jules B. Kroll and among various activities, acts in all areas related to the mitigation of business risks. (macauhub)