Audit to CGD will only be complete in 2017

  • ECO News
  • 7 November 2016

The audit request will be made by the Bank of Portugal, in articulation with the government, after the recapitalization of the public bank is completed.

The independent audit to the management of Caixa Geral de Depósitos (CGD) between 2000 and 2016 will only be concluded in 2017, brings forward today the Portuguese newspaper Jornal Económico.

The audit request for that independent assessment will be made by the Bank of Portugal, in articulation with the Portuguese government, after the recapitalization in concluded – meaning the request can still take place in 2016, although the audit will only be concluded in the following year.

In September, and also after António Domingues had stated he had not yet been “formally entrusted to audit”, the government had already clarified that such audit could only be requested after CGD’s capitalization needs are verified and approved.

Deloitte is the consultant already making those verifications.

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