Inside Attawapiskat's financial troubles

Business | 206877 hits | Feb 06 6:47 am | Posted by: martin14

The just-released audit of the Attawapiskat First Nation's management of its finances raises questions but was not the first audit to note a lack of documentation on the band's spending.

Comments

by martin14
Wed Feb 06, 2013 3:02 pm
Deloitte examined a sample of transactions from the six-year period and found that only about 20 per cent had complete records and no issues. The rest had no documentation or incomplete documentation or Deloitte could not determine "whether the expenditure claimed was in accordance with the terms and conditions of the funding agreements between Attawapiskat First Nation and AANDC."

That's a pretty frightening 'sample'.

Spence supporters have pointed out that since she became chief in mid-2010, the reserve's accounting practices have improved. Deloitte found that there were no issues with, on average, 15 per cent of transactions during the fiscal years 2005-06 to 2009-10 compared to 33 per cent in the fiscal years they audited when Spence was chief (2010-11 and part of 2011-2012).

There are no words...

Clayton Kennedy was Attawapiskat's co-manager from June 2010 until August 2012. Kennedy has said he is in a romantic relationship with Spence.

That's not co-management, that's a conspiracy.

"During our audit, we noted that many general journal entries made had no supporting documents. When asked for explanations of the entries, often, none could be provided. This resulted in additional work being needed in order to substantiate amounts in several accounts.

In the real world, they put you in jail for this.

Mak says that given the absence of documentation, an auditor cannot "conclude either way whether the affairs were properly conducted or not."

The next step, he says, would be to conduct a forensic audit, "to follow that money trail and find out where it went, despite the absence of documentation within the band."

Should have been done years ago.
by ShepherdsDog
Wed Feb 06, 2013 3:09 pm
Instead of jailing her they beatify her....Yup the Bannock Republics set up within Canada will only continue The average rezident will continue to be screwed over by the MNIA and the Chiefs and the Cronies. Rock the boat and you don't get housing or a job. Small wonder those that leave never return. Stay off the rez you only have to worry about one or two governments screwing you over
by OnTheIce
Wed Feb 06, 2013 3:56 pm
I thought it was racist to talk about Thief Spence and her poor management of money?

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