Questions raised over Blue IQs financial statements
Publish date: 02 August 2007
Issue Number: 74
Diary: Legalbrief Forensic
Category: Corruption
Blue IQ, a multibillion rand initiative set up to invest in economic infrastructure development in Gauteng, was called this week to explain to the legislatures oversight committee why it had not submitted financial statements for the past three years.
A forensic audit has been launched to determine how money from Blue IQ has been spent and managed since October 2003, says a Business Day report. The audit is expected to be handed to the Gauteng Standing Committee on Public Accounts for review next week. Blue IQ, an investment holding company that holds Gauntengs equity stake in a number of projects, including the Innovation Hub in Pretoria and the Cradle of Humankind World Heritage Site, is wholly funded by the provincial government and is to receive R93m this financial year. Full Business Day report
