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Accountant’s explanation for ‘cooking the books’ rejected
Sunday, July 20 2014
ACCOUNTANT Chanka Seeteram’s explanation of how he treated a $31 million item in the accounts of the Hindu Credit Union mere months before it collapsed - which raised allegations that he had cooked the books, is rejected in Sir Anthony Colman’s report, tabled in Parliament on Friday.
Giving evidence at the Inquiry in 2012, Seeterram had said that he failed to disclose a $150 million consolidated loss at an annual general meeting; concealed a $31 million loss among “prior adjustments” in the 2005 accounts; back-dated audited accounts and rushed preparing accounts – represented as fully audited accounts – upon the request of former HCU president Harry Harnarine.
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