Over 28 million pounds (SSP) and $2,267 went missing from Ivory Bank branch in Rumbek town, according to an audit report obtained by Radio Tamazuj.
The Audit Assurance and Management (AA & M) consultants issued the report.
“We, AA and Management consultants are pleased at the opportunity of presenting to you our cash count report for Ivory bank Rumbek branch as part of our audit of the Ivory Bank financial statements for the fiscal year 2018. We designed audit procedures to audit cash. The procedures involved carrying out a surprise cash counts for each Ivory Bank visited for the purpose of this audit,” the audit report said.
It added, “We therefore bring to your attention the differences in cash between physical cash and records and the daily chest report amounts to SSP 28,380,948.58 and $2,267 which is not accounted for”.
The audit report, officially signed by AA & M consultants, recommended that Ivory Bank’s Managing Director, Bidali Bismark should take appropriate measures so as to recover the missing funds.
This month, state high court judge, Michael Chol ordered an audit of the bank after its Rumbek manager complained of missing funds.
Speaking to Radio Tamazuj on Friday, the branch manager for Ivory Bank in Rumbek town, Mangui Dot said a case has been opened against two suspects now detained at Rumbek Prison.
He further said the suspects’ defense lawyers were yet to appear in court. “The case is awaiting defense lawyers of the two accused officials. They are away, but when they come, trial over the missing money from Ivory Bank in Rumbek will immediately begin,” Mangui said.
The branch manager identified the suspects as Natale Deng, who was deputy bank manager and Kuol Wol, who was the bank’s chief cash controller.
Ivory Bank is the leading local bank in the world’s youngest nation. The bank was founded in 1994 by a group of South Sudanese business people to serve the banking needs of the people and businesses of South Sudan.
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