Arab Today, arab today petrobras audits did not hint at graft
Last Updated : GMT 05:34:26
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.

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
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 21:14 2017 Tuesday ,21 February

Tatas will lead, not follow

GMT 20:39 2017 Tuesday ,21 February

China allocates $117 billion to expand railway network

GMT 11:16 2017 Tuesday ,21 February

US military defence technology firm Harris lands

GMT 11:11 2017 Tuesday ,21 February

UAE and Russia to develop fighter jet

GMT 10:33 2017 Tuesday ,21 February

Surprising array of weapons on hand at Idex
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
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