Integrity audit of Co-ops progressing smoothly – Min. Hamilton

The Ministry of Labour continues to work with consultants as the integrity audit into the operations of Co-operative Societies (co-ops) progresses.

This was disclosed by Minister, Joseph Hamilton, MP, during an interview with DPI on Friday, on the sidelines of a graduation ceremony. The Ministry also advertised for companies to assist with the auditing of the co-ops, to verify if they are fulfilling their mandates.

“As I speak to you, we have about eleven reputable companies that have shown an interest and the idea is to have one company each take a region and Region Four (will be managed by) two companies, so simultaneously, the audit is being conducted and to allow for me to make some decisions so no one would accuse me of making a decision without the technical input from objective independent auditors,” the Minister said.

He pointed out that his Ministry could only account for 512 co-ops, of which only 256 were considered to be operating in the interest of their respective communities. Minister Hamilton noted that these entities are responsible for significant assets which could be used for the betterment of the people.

“That is what I am attempting to do here through this integrity audit and I am not talking about a financial audit but an integrity audit, where you will look at the structure and the integrity of the co-op…more importantly, transparency and accountability.”

Minister Hamilton has pledged his Ministry’s support to provide training in the areas of accounting and marketing to those co-ops operating within the confines of the law.

In 1948, the co-op movement was officially established locally.