LP accused of unethical political play
Malta Government Investments (MGI) and MIMCOL, have today reacted to the comments of Labour Party spokesman Leo Brincat, categorically denying that any undue pressure had been exercised by any of their officials or consultants on the auditing firm BDO Malta.
MGI and MIMCOL stated that the Government and its agencies have every right to discuss the issues emerging from an audit in their role of shareholders, including the audit methodology utilised. “At no time during such discussions was any threat made or intended against this firm, not even in the most remote of manners,” they said.
In a letter dated January 6 2012, Wasteserv had emphasized that there was no undue pressure to change opinion, but rather seeking to identify the alternative auditing procedures that could have been performed in order to be able to complete the audit. “In fact the audit was completed successfully, without audit qualification, by the same auditors. The Wasteserv financial statements were filed with the Company Registry of the Malta Finincial Services Authorithy (MFSA) on March 30 after the same auditors used alternative audit methods to complete the audit as recommended during the meetings alluded to. During the annual general meeting of Wasteserv, the directors and Government shareholder representatives from MGI and MIMCOL also resolved to reappoint the same auditors to office again,” Wasterv had stated.
MGI and MIMCOL added that the LP spokesman was unprofessional in his approach in not verifying the facts with Wasteserv, the Ministry of Finance, the Economy and Investment, MGI, MIMCOL, or even the public documents held at the Company Registry of the MFSA, making this a clear example of unethical and malicious political play.