Bridgetown.
Chairman of the the BarbadosInvestors and Policyholders Alliance (BIPA) , June Fowler says the forensic audit
of CLICO should include the directors of the insurance company.
"The forensic audit is much too limted and we would like to have it spread further. it is important that the directors and officers are probed because these are the ones who had oversigh for the organisation," Flower said.
The audit has to look at their role and how their operated as the leaders, in terms of the policy oversight during that period, so we believe that tose directors and officer should be examined under oath", says Flower.
Flower welcome the work which has been done by the the judical manager, Deloitte Consulting Limited, she however has expressed concerns over some of the option proposed as ways forward for policyholders CLICO.
She said that of the five options outline by the judical manager, option one was the most favourable , but it could only work if the Governments of the Eastern come together to invest the $152 million that is required to set up a new company.
