I Am A Senior Accountant Working For Cape Tisbe International

2423 Words10 Pages
I am a senior accountant working for Cape Tisbe International (CTI) and am writing this business report concerning the issue of a great amount of money ($4 million) that has been paid to a PNG government minister as “Consulting Fees” recently. In this report, I would like to identify the fact , the issues needed to be tackled regarding this payment, and then discuss the possible consequences derived from these “Consulting Fees”, subsequently I will offer some plausible solutions in coping with this issue in a long-run global development. Facts A year ago, CTI signed a contract for farm machinery, worth $25 million, with Papua New Guinea(PNG). Recently, however, when I was conducting the annual internal audit, I have discovered some issues associated with this signed contract. As soon as I found something wrong with the contract’s accounting records I communicated with George but his answer has not addressed my confusion and concerns. Soon after that I had a chat with my boss Gareth, but I failed to gain a satisfied answer again. After the conversation with both of them, thus, I decided to dig it a bit further. Now I discover that the actual sales revenue of the contract was $21 million due to around $4 million that has been paid to a PNG government minister as “Consulting Fees”. I understand that the payment was paid to a certain person in order to secure the contract and maximize the wealth of our company. According to the relevant regulations and rules provided by

More about I Am A Senior Accountant Working For Cape Tisbe International

Open Document