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Lebanese Cabinet Approves Forensic And Financial Audit Of Central Bank
In today’s cabinet meeting, the government approved the appointment o U.S based services firm Alvarez & Marsal for the forensic audit that it has been calling for. An audit that has created quite a bit of nervous energy from our totally innocent politicians.
A forensic audit is “an examination and evaluation of a firm’s or individual’s financial records to derive evidence that can be used in a court of law or legal proceeding.” Meaning, the findings in the audit of the Central Bank can be used in legal processes after the fact. Like, if it was found that a bunch of money “disappeared” under your watch, they can take you to court.
In parallel, firms Oliver Wyman and KPMG were also approved as financial auditors in order to provide a more clear image of where the money went.
What do you all think of this step?
— Lebanese Presidency (@LBpresidency) July 21, 2020
A forensic audit is “an examination and evaluation of a firm’s or individual’s financial records to derive evidence that can be used in a court of law or legal proceeding.” Meaning, the findings in the audit of the Central Bank can be used in legal processes after the fact. Like, if it was found that a bunch of money “disappeared” under your watch, they can take you to court.
BREAKING: #Lebanon Cabinet agreed to assign Alvarez & Marsal for the forensic audit of the Central Bank.
— Kareem Chehayeb | كريم (@chehayebk) July 21, 2020
Cabinet has called for an audit last March, and initially appointed Kroll.
But that didn’t happen, w/ Finance Minister Wazni saying his “political backers” opposed it.
In parallel, firms Oliver Wyman and KPMG were also approved as financial auditors in order to provide a more clear image of where the money went.
What do you all think of this step?