Welcome to SomaliNet Forums, a friendly and gigantic Somali centric active community. Login to hide this block

You are currently viewing this page as a guest. By joining our community you will have the ability to post topics, ask questions, educate others, use the advanced search, subscribe to threads and access many, many other features. Registration is quick, simple and absolutely free. Join SomaliNet forums today! Please note that registered members with over 50 posts see no ads whatsoever! Are you new to SomaliNet? These forums with millions of posts are just one section of a much larger site. Just visit the front page and use the top links to explore deep into SomaliNet oasis, Somali singles, Somali business directory, Somali job bank and much more. Click here to login. If you need to reset your password, click here. If you have any problems with the registration process or your account login, please contact us.

Somali govt appoints accountancy firm

Daily chitchat.

Moderators: Moderators, Junior Moderators

Forum rules
This General Forum is for general discussions from daily chitchat to more serious discussions among Somalinet Forums members. Please do not use it as your Personal Message center (PM). If you want to contact a particular person or a group of people, please use the PM feature. If you want to contact the moderators, pls PM them. If you insist leaving a public message for the mods or other members, it will be deleted.
OUR SPONSOR: LOGIN TO HIDE
User avatar
Somaliman50
SomaliNet Super
SomaliNet Super
Posts: 5850
Joined: Fri Oct 17, 2008 5:11 pm

Somali govt appoints accountancy firm

Postby Somaliman50 » Thu Jul 09, 2009 4:05 pm

Somalia's fragile government has hired the world's biggest accountancy firm, PricewaterhouseCoopers, to help ensure international aid is spent correctly.

The embattled administration has been asked by donors to demonstrate that funds will be spent properly, and not embezzled by corrupt officials.

PwC has undertaken similar work checking how donor funds are used across Africa.

More than 200,000 people have fled clashes in Mogadishu since May.

PwC staff will find a Somali capital rocked by fierce battles between radical Islamist insurgents and pro-government forces.

"PricewaterhouseCoopers has been appointed to hold and manage the pledged and allocated funds for institutional capacity building and development [in Somalia]," the firm said in a statement.

It declined to go into detail about the work, citing client confidentiality and security issues.

This is a big step in reconstructing Somalia and will enhance transparency

But it is thought a team of at least 20 staff, based in Nairobi, capital of neighbouring Kenya, will operate in and out of Somalia, helped by local agents on the ground.

They will administer via a central bank account some of the $213m (£132m) pledged by donors in Brussels in April towards boosting security in the failed Horn of Africa state.

PwC will check Somali ministries' spending plans tally with donor expectations, before releasing the cash and ensuring it is spent transparently.

It is understood the firm will receive a commission of between 2-4% on all funds that reach their intended destination.

A spokesman for the Somali transitional federal government said in a statement: "This is a big step in reconstructing Somalia. In addition, this will enhance transparency and accountability."

Somalia has not had a stable central government since Siad Barre was ousted in 1991.

http://news.bbc.co.uk/1/hi/world/africa/8140165.stm

OUR SPONSOR: LOGIN TO HIDE

Hello, Has your question been answered on this page? We hope yes. If not, you can start a new thread and post your question(s). It is free to join. You can also search our over a million pages (just scroll up and use our site-wide search box) or browse the forums.

  • Similar Topics
    Replies
    Views
    Last post

Return to “General - General Discussions”

Who is online

Users browsing this forum: Bing [Bot] and 11 guests