Arab Today, arab today petrobras audits did not hint at graft
Last Updated : GMT 18:07:16
Arab Today, arab today
Arab Today, arab today

Petrobras audits did not hint at graft

Arab Today, arab today

Arab Today, arab today Petrobras audits did not hint at graft

Petrobras former president Jose Graca Foster
Brasília - AFP

Regular audits of Petrobras gave no hint of the massive corruption scandal now engulfing the Brazilian state oil giant, its former chair said Thursday.
Graca Foster, who resigned last month amid a widening probe into allegations of kickbacks, bribery and political payoffs at the company over nearly a decade, told a congressional panel there had been no warning from auditors something was amiss.
"It was the police who discovered the corruption. Federal police, the public prosecutor, discovered this cartel -- to be confirmed," Foster said.
She was referring to a group of prominent construction firms that allegedly joined in a scheme to share inflated Petrobras contracts.
The resulting flood of dirty cash, estimated at some $3.8 billion, filled the pockets of businessmen and politicians, investigators allege.
"It was not Price (auditing firm PricewaterhouseCoopers) who discovered the corruption. It was not an independent auditor who discovered the corruption in Petrobras; it was not Petrobras who discovered the corruption in Petrobras," said Foster.
Foster, a close associate of President Dilma Rousseff, has not been accused of any irregularities during her three year stewardship of the company.
Neither has Rousseff, who was Petrobras' board chair during much of the period the corruption allegedly flourished.
But dozens of politicians, many of them from her ruling Workers Party or coalition allies in the Congress, have been named as suspects, their parliamentary immunity lifted by the Supreme Court.
Aside from Petrobras' external auditors, who have yet to sign off on its third quarter results from last year, the firm also is audited domestically by the federal accountability office (TCU) and the federal comptroller general (CGU).
"We are a company controlled by the government and we owe these tribunals obedience and discipline -- the control organs improve our management," said Foster, who offered to resign several times before finally leaving in February.
Asked if she spoke to Rousseff about the situation at Petrobras, Foster said there was no reason to address wrongdoing she knew nothing about.
"What is happening at Petrobras is increased production, increased discoveries (of deposits) and increases in reserves. I did not know about bribes or corruption and I could not speak to her about something of which I knew nothing," said Foster, who has worked for the company for almost four decades.
But she admitted to "shame" and "disappointment" over the unfolding scandal, which has seen the firm's share price nosedive, wiping tens of billions of dollars off its market capitalization value.
Foster has not been accused of any irregularities during her three stewardship of the company.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today petrobras audits did not hint at graft Arab Today, arab today petrobras audits did not hint at graft

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today petrobras audits did not hint at graft Arab Today, arab today petrobras audits did not hint at graft

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday