News / National
'ZBC will never be the same,' says Jonathan Moyo
01 Aug 2014 at 08:30hrs | Views
MEDIA, Information and Broadcasting Services minister Jonathan Moyo yesterday said the fortunes of the Zimbabwe Broadcasting Corporation (ZBC) are set to drastically improve soon with the anticipated implementation of the turnaround strategies recommended in a forensic audit of the firm.
He said this at his Munhumutapa offices after Auditor-General Millicent Chiri handed him the forensic report prepared by KPMG.
Moyo told journalists that he would go straight into studying the contents of the report to appreciate the work lying ahead in transforming the nation broadcaster.
"The real work is about to begin," he said.
"After this report, ZBC will never be the same. It will be transformed for the better. We have been patiently waiting for the report. We understand it took longer due to the scope of work involved."
Moyo said after studying the report, he would advise his principals of the findings made by KPMG.
"We also expect the Father Fidelis Munyoro-headed ZBC board to be seized with the implementation task," he said.
Moyo, in February ordered the Auditor-General to conduct a comprehensive forensic and turnaround financial audit on ZBC following reports of gross financial maladministration by the Happison Muchechetere-led administration. This followed reports of the national broadcaster failing to pay workers for over eight months at a time senior managers were giving themselves hefty packages of up to $40 000 per month.
KPMG was then appointed by the Auditor-General, out of the nine local companies that applied to conduct the forensic audit. ZBC is reportedly $51 million in the red and needs about $10 million for the restructuring exercise.
The audit, which also encompassed labour, looked at all systems, decisions and practices which have supported the debt-ridden ZBC's finances for the past five years.
Moyo, who was flanked by his deputy Supa Mandiwanzira and permanent secretary in the ministry George Charamba, said the report, conducted by KPMG auditing firm, would provide findings that would inform on the kind of intervention that was necessary to arrest the situation at the troubled broadcaster.
He said this at his Munhumutapa offices after Auditor-General Millicent Chiri handed him the forensic report prepared by KPMG.
Moyo told journalists that he would go straight into studying the contents of the report to appreciate the work lying ahead in transforming the nation broadcaster.
"The real work is about to begin," he said.
"After this report, ZBC will never be the same. It will be transformed for the better. We have been patiently waiting for the report. We understand it took longer due to the scope of work involved."
Moyo said after studying the report, he would advise his principals of the findings made by KPMG.
"We also expect the Father Fidelis Munyoro-headed ZBC board to be seized with the implementation task," he said.
Moyo, in February ordered the Auditor-General to conduct a comprehensive forensic and turnaround financial audit on ZBC following reports of gross financial maladministration by the Happison Muchechetere-led administration. This followed reports of the national broadcaster failing to pay workers for over eight months at a time senior managers were giving themselves hefty packages of up to $40 000 per month.
KPMG was then appointed by the Auditor-General, out of the nine local companies that applied to conduct the forensic audit. ZBC is reportedly $51 million in the red and needs about $10 million for the restructuring exercise.
The audit, which also encompassed labour, looked at all systems, decisions and practices which have supported the debt-ridden ZBC's finances for the past five years.
Moyo, who was flanked by his deputy Supa Mandiwanzira and permanent secretary in the ministry George Charamba, said the report, conducted by KPMG auditing firm, would provide findings that would inform on the kind of intervention that was necessary to arrest the situation at the troubled broadcaster.
Source - newsday
