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MMA-AAD audit finds…Staff and external parties colluded to steal $5.4M in spares

Jun 05, 2016 News

A forensic audit and review into the Mahaica-Mahaicony-Abary Agriculture Development Authority (MMA-AAD), for the period January 1, 2012 to May 31, 2015, has revealed that spares for machinery and vehicles were stolen accumulating to a total estimated loss of $5.4M.

The auditors found this piece of information while they were examining the agency’s Board Minutes.
The auditors relate that this loss was derived from an alleged collusion between staff and external parties.
The auditors stated that this indicated the poor security over the premises at that time adding that the issue would have cast doubts of integrity of the staff within the mechanical division.
The auditors recommended that there should be daily reconciliation of inventory balances to ledgers and an increased number of security personnel. It is unclear whether these recommendations were acted upon.
Further, the auditors pointed out that there was no accurate updated record of the spares being held by the authority.
The authority should establish a system for the recording and management of spares with regular physical counts being conducted, the auditors recommended.
After receiving these recommendations, management stated that engagements between the entity and the private security firm were already initiated while physical checks had commenced.
Batteries including 17 and 13-plate types were removed from several machinery and vehicles between 2014 and 2015. The estimated total loss is $542,448.
During that period also, the following were stolen: one dump pump valued at $225,000, four turbo chargers $1.3M; one fuel pump valued at $600,000; an alternator, $80,000; angle grinder valued $54,000; a computer box, $900,000; three starter motors, $310,000; four 4 gang with disc harrow complete, $600,000; heavy-duty 15-inch tubes estimated at $444,000; one “complete set”, $141,500; a cutting torch, $50,000; and a Husky three gallon 125 Psi 2,4 sc fm oil lube compressor valued at $91,067.
MMA/ADA was established in 1978 by Act No. 77 of 1977. The Authority was formed as the executing agency for the construction of all drainage and irrigation works in Region No. 5, (Mahaica/Berbice) on the north-eastern Atlantic sea coast of Guyana. The agency is also responsible for the allocation of State Lands between the Berbice and Mahaica Rivers.

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