Monday, March 04, 2013

Airport boss fired amid expenses inquiry

Jeremy Jackson
The boss of Cayman’s airports authority has been fired amid a continuing investigation into expenses.

Jeremy Jackson, chief executive officer of the Cayman Islands Airports Authority, was sacked 
on Thursday.

In a brief statement the airports authority board said: “The decision to terminate the chief executive officer was based solely on facts and was not political or 
otherwise influenced.”

The board gave no official reason for the decision and no details of its internal audit, saying it was 
still in progress. 

The initial findings of the audit were revealed to board members in December, following which Mr. Jackson was placed on leave with full pay and financial controller Shelley Ware was fired. An independent firm is now 
reviewing the findings.

The audit, carried out by one of the airports authority board’s own directors who is an accountant, was ordered because of “ongoing concerns” relating to the expenses of the authority, chairman Richard Arch said in a separate statement earlier last week.

Some allegations of financial misconduct, apparently based on the findings of an interim report, were leaked and posted on the Internet.

But Mr. Arch would not discuss details of the internal audit’s findings. 

“The full audit is pending completion,” he said. “Subject to the board receiving the audit, a decision will be made as to next steps.”

The board also offered no further comment when asked if any of the findings of the audit had been referred to police for investigation.

The authority’s audited financial statements for 2009 recorded a $91,000 loss of revenue due to theft. The financial statements for 2011, released last month, were given a “qualified opinion” by the auditor general, which means there are areas of concern.

In his notes on the statements, the auditor said the disclosure of the business interests of management and board members, and their dealings with the airport, were not complete. 

Disclosure is required to assess whether the financial position and performance of the entity has been affected by the business relationships of management or board directors.



Source:   http://www.compasscayman.com

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