SUNBIZ

Fiji Television Auditors Under The Spotlight, Accountants Institute To Investigate

According to the letter, Fiji Television informed SPX that following an independent review, an internal investigation of entities, financial systems and records became necessary.
23 Apr 2021 11:35
Fiji Television Auditors Under The Spotlight, Accountants Institute To Investigate
Fiji Television headquarters in Brown Street, Suva. Photo: Susana Hirst-Tuilau

Fiji Institute of Accountants (FIA) has received a written complaint against a reputed auditing firm over irregularities in accounts relating to Fiji Television.

The complaint cited the firm as an external auditor of the listed television company.

The letter, sent last week from the email address of South Pacific Stock Exchange’s (SPX) acting chief executive officer, Pretesh Prasad, copied some staff of the Reserve Bank of Fiji.

Mr Prasad did not respond to queries sent by SunBiz, when this edition went to print.

Fiji Institute of Accountants president Pravinesh Singh said a council meeting that was scheduled to be convened today, was to have addressed the complaint.

The meeting was however postponed because of the national state of alert on COVID-19.

Mr Singh would not comment further.

The complaint was to be discussed at the council meeting, before a decision was to be reached on whether the matter would be taken up to board level.

According to the letter, Fiji Television informed SPX that following an independent review, an internal investigation of entities, financial systems and records became necessary.

The letter said Fiji Television had to apply major adjustments to its financial records which would result in the subsequent recall and re-issue of entities, including the 2020 financial audited statement.

The letter called for a restatement of the financial figures for 2018 and 2019, which failed to declare subsequent events.

When SunBiz reached out to Fiji  Television chief executive officer Sitiveni Halofaki, he said that this matter was for the Fiji Television board to comment on.

Fiji Television board chairman Deepak Rathod reserved comment, saying he was not aware of the matter.

Feedback: frederica.elbourne@fijisun.com.fj

 

 



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