Pramuka Employees are accusing the banks auditors KPMG of certifying accounts, which were not true and fair when there were massive accounting frauds. They are particularly concerned about the illegal provident fund.
ldblquote The audited accounts pertaining to Pramuka Bank have not portrayed a true and fair view of its state of affairs,
dblquote says Sunimal Dabrera of Pramuka Stakeholders Associationrn
rnldblquote In hindsight it is obvious. The professionalism displayed by the auditors is open to question.
rnBut auditors say they did qualify the accounts about the provident fund in 2001, and using the terminology that they believed to be appropriate. They also raised a question about gratuities.rn
rnIn addition the 2001 audit report raised several matters, regarding to recognition of revenue, which is a violation of SLAS 23.
KPMG also raised another vital issue in 2001 when they cast doubt on the valuation reports on securities held by the bank.rn
rnPramuka stakeholders say t