The Office of the Comptroller of Puerto Rico issues a favorable opinion with exceptions on the fiscal operations of the Industrial Development Company related to advertising contracts.
The Report reveals that improper payments were made for advertising services provided without contracts. Our auditors examined a sample of the 98 contracts and 24 amendments for $43.9 million that the CFI awarded from 2009 to 2016, and determined that in 23 of 509 disbursement requests the services were provided outside the contract dates.
The audit points out that this situation is contrary to Act 237-2004 which establishes, among other provisions, that the awarding of a professional or consulting services contract between a contractor and the Government must be prospective and formalized in writing.
The Report covers the period from January 1, 2009, to December 31, 2016.
See Audit Report CP-18-05
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