Presidential Commission initiates the investigation of the oil trade case

The Presidential Commission has said that the commission has now begun the investigation of the oil trade of a company in Singapore.

In a media statement released by the commission yesterday said that they began the investigation because the Auditor General’s audit reports have mentioned such an illicit trade and also because such claims cannot be concluded except by investigating the truth behind them. The commission also said that investigating the case will be what is best for all parties involved.

“With the cooperation of international audit companies and investigative parties the investigation has been initiated in the light of the information received. The investigating party has been informed that the company is lacking many of the documents regarding their transactions and the documents are not in accordance to the best practice of international accounting systems,” the statement said.

The Presidential Commission said that Grant Thorton is an international forensic accounts firm commissioned to investigate STO Singapore. The commission said that the investigations of the firm so far found that some of the high ranking personnel’s of the former government have been involved in these transactions.

The commission said that all parties now are in need of a reliable investigation since the case involves the rights of the people and the transactions involve not only one country but many.