Gary Spaulding, Senior Gleaner Writer
The current board of the Caymanas Track Limited (CTL) has sought to distance itself from the damning results of a forensic audit that was carried out by the Public Accountability Inspectorate Division of the Ministry of Finance and the Public Service.
The board confirmed reports published in The Sunday Gleaner, as well as last Monday's Gleaner, that the focus of the probe was on the stewardship of the previous board, asserting that it was the new board which ordered the probe.
"The report is the result of a forensic audit which was commissioned by the new administration into the operations of the CTL as at December 2011," a statement from the current board indicated.
"A copy of the report containing the findings and recommendations was sent to the CTL board by the Ministry of Finance and Planning on Monday, 3rd September, 2012, and we have begun to examine all its contents."
Dependent on Gov't
The current directors acknowledged that CTL's finances and structure were in bad shape and that the company was dependent on support from the Government.
"In the interim, the newly appointed board has subsequently appointed a financial controller who, along with the business consultant, employed for three months, is working assiduously to stem the financial haemorrhage and has already put in place several prudent financial and procurement procedures for the company's operation."