It was mismanagement, says LTAT chairperson on financial irregularities
- 5 years ago
Armed Forces Fund Board (LTAT) chairperson General (Rtd) Mohd Zahidi Zainuddin said he does not believe there was any criminal intent behind the financial irregularities in the organisation, as revealed in a recent independent audit report.
At a press conference today he said that the irregularities found in past transactions were due to mismanagement committed by the previous management that was not properly accounted for.
The press conference was called for LTAT to explain the financial irregularities and weaknesses found in the independent audit done by Ernst & Young in February 2019, as well as LTAT's plans in moving forward.
LTAT had earlier released a statement detailing some of the irregularities and weaknesses found by the auditor.
At a press conference today he said that the irregularities found in past transactions were due to mismanagement committed by the previous management that was not properly accounted for.
The press conference was called for LTAT to explain the financial irregularities and weaknesses found in the independent audit done by Ernst & Young in February 2019, as well as LTAT's plans in moving forward.
LTAT had earlier released a statement detailing some of the irregularities and weaknesses found by the auditor.