Reply To:
Name - Reply Comment
Last Updated : 2024-04-29 07:31:00
16 February 2024 11:41 am - 35 - {{hitsCtrl.values.hits}}
Colombo, Feb 16 (Daily Mirror) - KPMG's forensic audit into discrepancies at Ceylon Petroleum Corporation (CPC) and Ceylon Petroleum Storage Terminals (CPSTL) has revealed substantial losses attributed to alterations and deletions in SAP data related to stock holdings.
The forensic audit was initiated in response to a complaint filed by the Power and Energy Minister with the Criminal Investigations Department (CID) in August 2022.
The major findings of the forensic audit conducted by KPMG on the sales and distribution of petroleum products from the CPSTL was briefed to Minister Kanchana Wijesekera last afternoon.
Accordingly, the KPMG and CPSTL audit investigation officials have found that more than 1.3 million entries on SAP data have been changed or deleted since 2010 and most have occurred in 2022 during the height of the fuel crisis.
After the complaint was lodged in August 2022 the number had significantly reduced in 2023.
Massive losses have been recorded from stock holding in 2022 amounting to Rs. 28 billion & after the complaint was lodged it had come down to Rs. 4 billion in 2023.
Use of outdated circulars and procedures and no adequate data have been available or kept to determine certain irregularities.
Accordingly, the full report on the major findings of the forensic audit conducted by KPMG will be handed over next week by KPMG and the Minister will handover the complete report to the CID for further investigations and appropriate legal steps.
The report will also be shared with the members of the Cabinet, Parliament, the Auditor General and the Attorney General's Department to pursue the next steps.
munas Friday, 16 February 2024 12:21 PM
put all the culprits in JAIL this the only solution to prevent it happening again.think of the future of our children
HMHA Herath Friday, 16 February 2024 01:07 PM
Who were the Chairmen.
Gona Friday, 16 February 2024 02:49 PM
Shy shy to say, appochchi amma' brother, the kirikatar is one. And the vegetable's sona, his margin is 50% from all purchases abd that's how e.g. 117.00 a litre of petrol is now over 350.00
Rohan Friday, 16 February 2024 12:26 PM
In Western countries “kitchen cooks” are called from the last twenty as “chefs” and treated like professionals. The term forensic accounting or auditing is in similar to all the name changes in the Western countries to make them look like “ very important work”. Whatever comes out of the West, foolishly the third world buys it.
Sokrates Friday, 16 February 2024 01:08 PM
In Germany, a cook is a Koch and a kitchen usually only has one chef (Küchenchef). Translations into English using a translation program are usually incorrect and indicate a cook as chef.
Tissa Fernando Friday, 16 February 2024 05:29 PM
What is your point here? Please get some education on Foresnsic word. Also learn the difference between a standard audit and a forensic audit.
Mahila Saturday, 17 February 2024 03:56 AM
Tissa F., The point is all the Nationalist Patriotic Horu's are making out this serious lapse as A GRAND JOKE - Hoping, HOPE after HOPE that this Finding would wither away, and everybody overlooks it as FAKE!!?? Single word is 'DECEPTION", or option of 2 letter word is "COVER UP", Attempt!!?? Treat it as "DAISY AACHCHI's Jewels, Precious Stones!!?? “Public Grief” is someone’s ‘Past-Time’!!!???
Be Fair Friday, 16 February 2024 12:56 PM
Wonder how many Union guys are part of this syndicate?
Tissa Fernando Friday, 16 February 2024 05:30 PM
Probably all.
Priyan66 Friday, 16 February 2024 01:03 PM
Privatize all SOEs as all these losses paid by tax payers
Patcitz Friday, 16 February 2024 01:29 PM
Also, bring ROBBED Treasury money that Arjun Mahandran took off with the support of Ranil Wickremasinghe, and hiding in Singapore.
Kabir Hashim Friday, 16 February 2024 01:45 PM
KPMG are also big crooks, just Google it.
ERAN Wicks Friday, 16 February 2024 01:47 PM
Audit firms in SL also crooked will approve accounts without really auditing.
Nimal Friday, 16 February 2024 02:08 PM
Any type of audit, properly conducted, would reveal massive frauds at almost all state institutions.
Dee Friday, 16 February 2024 02:14 PM
A future NPP government will stop all aud….. (Opps sorry. Played the same record- was going to blame the minister and the forensic audit)
Lion Friday, 16 February 2024 03:05 PM
It will be hushed up as those involved belong to arabic faith.
RETIRED BANK EMPLOYEE - INCOME TAX PAYER Friday, 16 February 2024 03:51 PM
DO NOT FORGET THE "HEDGING DEAL"...
Evaporation Margin Inc Friday, 16 February 2024 05:51 PM
SAP data deletion rights can only be with a very few high level hierarchy staff if SAP was properly configured. On the other hand if parties have created work arounds to overcome configuration or workflow issues - then a conscious arrangement might have been practiced where for eg a delivery order raised but payment not made before x date, a reversal is needed can be also practised by deleting the DO if poorly configured or workflows are not aligned with the rules. Many Audit firms make the mistake of sending very young inexperienced pups to the front line and they may not identify the root cause of the problem. If 28Bn of stock anomalies were prevalent the entire finance department should be jailed for not realising it. Lets not panic or rush to believe this too is part of the corruption at CPSTL
IT Saturday, 17 February 2024 03:21 PM
I agree. SAP is a very strong system which has a clear traceability of what you do. Most audit people including KPMG, EY, etc. Dont understand it and gives wrong interpretations to what they see in the system. And as you correctly said, no one can just go and delete data in SAP or anyother good ERP haphazardly. We need to wait and see what has actually happened I have seen many audit people calling out a reversal of a document as a deletion which is wrong. And also, if audits are done properly from the beginning, a lot of things would have been revealed a long time ago
WIPE OUT CORRUPTION WITH A PUNISHMENT THAT WILL MAKE ONE THINK TWICE BEFORE AGREEING TO ANY DISHONESTY AND CROSSING THE LINE Friday, 16 February 2024 05:52 PM
Not surprised, sad to say Sri Lanka is riddled with corruption. In the good days as I recall Rs.50-100 would get you a copy of a birth certificate and the likes as one communicated with a clerk. However, over the years corruption has increased I hear in all government departments in some shape or form. As it confirms deleting and changing documents could be classified as criminal offence (correct me if I am wrong). A FULL INDEPENDENT INVESTIGATION SHOULD BE SET UP TO IDENTIFY ALL THOSE PRESENT AND PAST EMPLOYEES WHO HAND A DIRECT AND OR INDIRECT HAND IN THIS FRAUD, SHOULD BE CHARGED AND THROWN IN JAIL. ALL THESE FINDINGS COMING OUT BEFORE ELECTION DATE!! WE CERTAINLY DO HAVE SOME SCUM OF THE EARTH, DRAGGED THROUGH THE GUTTERS INSTEAD OF BEING BROUGHT UP IN THE REAL WORLD.
DD Friday, 16 February 2024 06:05 PM
Great work, KPMG! Keep auditing other government offices too. Hold those responsible accountable and teach important lessons for the future. We need transparency and honesty in public places to keep people's trust.
Tissa Fernando Saturday, 17 February 2024 09:38 AM
These audits are done on demand by relevant ministers. KPMG is a private entity and they cannot and will not audit on their own accord. Relevant authorities should give them a contract to do so. There are other such firms too, those firms can and will do similar work if requested formally by relevant authorities. Only government Auditor General has the authority to perform audits without any request by authorities.
DD Friday, 16 February 2024 06:05 PM
Great work, KPMG! Keep auditing other government offices too. Hold those responsible accountable and teach important lessons for the future. We need transparency and honesty in public places to keep people's trust.
Ranga Friday, 16 February 2024 06:28 PM
Waste of tax payers money
Mahila Saturday, 17 February 2024 10:29 PM
Which One? Audit or Corruption, Robbing??
Mahila Saturday, 17 February 2024 10:29 PM
Which One? Audit or Corruption, Robbing??
Aquarius Friday, 16 February 2024 06:45 PM
Why is this considered a big revelation? Every single person in the country knows that cooking the books is a past time in these institutions. They create the crisis to profit from the crisis. The big question should be, what will be the result of these findings? Will any heads roll - not according to our proud 2500-year culture. Some will try to resign and start "singing" before they are prosecuted. before they Too many politicians behind all these scams.
H T Friday, 16 February 2024 08:03 PM
@ Sokrates; I am a Psychiatrist practicing in Britain, you have totally lost your mind.
Bandara Friday, 16 February 2024 08:10 PM
What else to be expected when thieves are heading the government corporations.
Confiscate all assets if you want sure result Saturday, 17 February 2024 10:22 AM
This is an essential qualification under certain rulers in this nation. A person's ability to rob, to speak on the political stage and give kickbacks to the sponsor ensures a top post, to make money. Citizens are the least concern of these professional crooks. They go and stand as saints on political stage, and we keep on re-electing them.
Robin hood Friday, 16 February 2024 08:11 PM
Sri Lankan economy down falls from all government sectors due to misleading mismanagement theft corruption people are saying don't privertise don't sell are asserts due to money hungry thifs all non performing sectors should sell or privertise this kind of activities will never stops unless otherwise billions and billions been robbed approx last 15 to 20 years now must end all this nonsense IMMIDIATLY People are suffering due to money gready corrupt fellows
Mahila Saturday, 17 February 2024 04:01 AM
People who made this possible - VOTERS - must soon realise and make AMENDS!! INTELLIGENT, INFORMED voting PURPOSEFULLY!!??
Sambo Saturday, 17 February 2024 07:46 AM
This country itself is a fraud.
Db Saturday, 17 February 2024 05:17 PM
Responsible have already left the country. They are having dual citizens and pr in safe heavens. Too late.. Poor people in the country.
Mahila Saturday, 17 February 2024 10:35 PM
The POOR people elected them Knowingly!!! All knew the RAJA Horu from 2015!?? 'Kawdha Gona'!??
Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Reply To:
Name - Reply Comment
US authorities are currently reviewing the manifest of every cargo aboard MV
On March 26, a couple arriving from Thailand was arrested with 88 live animal
According to villagers from Naula-Moragolla out of 105 families 80 can afford
Is the situation in Sri Lanka so grim that locals harbour hope that they coul
26 Apr 2024
26 Apr 2024
