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Cuba starts to audit state-run companies

English.news.cn   2011-04-26 11:03:33 FeedbackPrintRSS

HAVANA, April 25 (Xinhua) -- Cuba started to audit more than 750 state-run companies across the country on Monday to review their management and legitimacy so as to determine which should be merged or liquidated.

The inspection would be carried out by more than 3,000 auditors in a random manner, covering all the sectors and institutions, said Gladys Bejerano, vice president of the Cuban Council of State and General Controller.

Strengthened inspections would promote "the fulfillment of the socialist legality and an efficient and honest administration," Bejerano said, adding that more than 100 teachers and students from the Accounting and Finance School at the University of Havana would also participate in the process.

The inspection was expected to review the management of state-run companies, their efficiency level and any problems affecting their operation, she said.

The audit would cover all the operations performed during the first quarter of 2011, she said, adding that if possible, auditing might be extended to an earlier period.

The official said companies cleared during the second half of 2010 or earlier this year would not be evaluated again and would have a green light to continue operation.

The national auditing process began a week after the Sixth Congress of the Cuban Communist Party, which approved reforms to give state enterprises more freedom, reduce subsidies and close ailing state enterprises.

The General Controller's office was set up in 2009 by Cuban President Raul Castro to fight corruption and to strengthen the rule of law and institutions on the island.

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Editor: Xiong Tong
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