The VNPF GM has released a press release with an Un-Audited Financials Accounts summary which is not signed off by a certified Auditing Entity.
YTSNews understands VNPF must release Financial Audited Accounts from 2017, 2018 and 2019 that are signed off by a certified Auditing Entity and released or made public by the VNPF Board of Directors whose Chairman is the signatory to the report release.
YTS News is aware that KPMG Fiji is contracted for the Audit Reports for the year 2017, 2018 and 2019 under the expense of members’ funds.
The Press release signed by the VNPF GM is not an Audited Financial Report but more of an asset summary and not an official report as the official Auditor audited report done by KPMG FIJI has not been made public.
YTSNews has a copy of the 2016 VNPF Audit Report and there on that report, there is a lot of discrepancies which members will be interested to read including the fact that 1.5% interest was paid in 2016.
KPMG has been paid with members savings to do an Audit Report and YTS has added KPMG to the RTI list.
YTSNews was told by reliable sources that GM Parmod had spent a lot of members’ funds on auditors to do this job. Auditors do travel from overseas on numerous occasions to deliver this job for the Fund.
YTS news understands that GM Parmod has the obligation to ask the VNPF Board to release the Audit Reports.
VNPF has a duty to produce an Audit Report that is authenticated by an Auditing Entity and any press release by VNPF alone is not trustworthy for stakeholders of VNPF.
GM Parmod needs to advise the VNPF Board to release the KPMG FJI Audit Reports.