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Audit at Latvian Post finds major violations

Dec 11, 2012

RIGA - The State Audit Office has discovered violations and shortcomings after inspecting the books at Latvian Post, including falsification of accounting source documents regarding use of official vehicles.

Egita Diure from State Audit told LETA that unwarranted expenditures for official vehicles were discovered, also poor quality procurements and insufficient monitoring of contract fulfillment thereof, causing payments higher than the maximum permitted.

State Audit experts have determined illegalities and squandering of funds, resulting in accumulated losses in the period 2005-2010 at LVL 24.5 million. Also - serious shortcomings in carrying out the Latvian Post business plan 2010-2014, with criticism specifically addressed to the company's sole shareholder - the Transport Ministry, for failing to facilitate completing objectives set in the business plan.

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