Audit Institutions

A new corporate offense for failing to prevent Tax Evasion is expected to get its first reading in parliament this week, says Pinsent Masons, the international law firm.

In a first for HM Revenue and Customs, an accountant who failed to cooperate with a value-added tax fraud investigation has been fined GBP25,000 (USD31,750) under the Serious Organised Crime and Police Act.

A long-serving book-keeper who defrauded one of Britain’s most historic estates out of £239,000 over nearly 10 years is facing jail.

Declan Quinn is under investigation The PSNI is investigating the business dealings of a Co Tyrone accountant following allegations of fraud.

Two former officials of Food Veterinary Office (PVD) and one businessman have been accused in the criminal case of giving and accepting bribes. As reported, according to the decision in transfering the criminal case to the trial, two of the accused women served public duties at the border control department where they carried out operations related to the import control in the field of food movement, checked labels and document compliance with EU and Latvian laws and regulations of imported food products.

The chairman of the board Andris Liepiņš and the member of the board of Riga International Airport Ilmārs Upenieks have been revoked from their duties. As reported, the council of the airport has lost trust to them after seeing the report of the functional audit form the Ministry of Transport and Logistics about the implementation of procurement procedures at the airport.

The former chairman of the board of Riga International Airport Andris Liepiņš does not understand reasons of his revocation and does not exclude the possibility of political involvement in the decision making process. The audit accusations and the reasons of revocation of him and other board member Ilmārs Upenieks are not clear from the speach of the chairman of the council of the airport Juris Kanēlis.

The Finance Ministry' auditors completed the review of the fifty million subsidy for Capi hnizdo (Stork's Nest) Farm. The report shows that the auditors can't neither confirm nor deny suspicion on connection between Capi hnizdo farm and Agrofert (company owned by Minister of Finance Andrej Babis). The law does not allow the auditors to examine companies that have not received a subsidy.

German finance supervisor BaFin authority investigates according to German banks which are connected to the Panama Papers.