Draft Financial Report Presented to NICH Board of Directors

Sapna Budhrani

As we told you on Monday night, a draft report prepared by Certified Public Accountant Mark Hulse on the finances of the National Institute of Culture and History, NICH, has been presented to the board of directors of the statutory body.  The accounting firm looked at an internal audit of NICH’s finances which led to a cabinet decision to place President Sapna Budhrani on administrative leave.  The external audit has found that sufficient due diligence was not applied by the internal auditor by establishing reasonableness and completeness of occurrences and transaction.  The draft, we are told, was to have been presented today to the finance subcommittee for approval.  Thereafter it should be submitted to Cabinet since the directive came from that legislative body.  It is expected in the days ahead that a press conference will be called to share details of the report with the media.