It has emerged that at a time that Ghana Airways was in dire need of funds for its operations and resorted to excessive borrowing at high interest rates from both local and foreign banks, local travel agents were indebted to the tune of over 7.8 billion cedis.
Forensic Review of Internal Control Systems Management Processes and Procedures by Messrs Worldwide Investments Company has revealed that the amount was outstanding in the airline’s books as of August 31, 2002.
Though the forensic auditors did not give the names of the local travel agents who collectively owe the airline that colossal amount, another part of the report specifically mentioned the names of some travel agents in connection with some Ghanair tickets which cannot be accounted for, though the tickets were issued from their point of sale.
The forensic auditors state that ”These tickets were picked out of about 500 tickets/coupons for test check. One could imagine the percentage of unaccounted for tickets if each month has approximately 36,000 tickets/coupons for a period of two-and-a-half years”.
The forensic auditors add that this, as well as other separate stinking debts and other malpractices came about as a result of the refusal of the airline to pay for a ticket accounting software costing US$600,000.
Source: GhanaWeb
