Deputy Auditor General, Maurice Wilson, is heading the probe into a suspected million-dollar fraud at the University of Guyana bursary where cheques were written and cashed for persons no longer with the University and lecturers' uncollected fees were being drawn.
Four employees were sent home and four more are under scrutiny. But a source close to the investigation said the police had not been called in as yet and would not be until the auditors had concrete evidence of fraud. There is currently, clear evidence of fraud, the source said.
The source said that the scam seemed to date back several years and should have been picked up in the regular audit.
However, when the university detected the irregularities it called in the audit office on May 13 and the investigation was launched on May 16.
In a brief statement yesterday, the university said it discovered apparent "financial irregularities" in its Bursary and has called in the audit office. The university said it was awaiting the audit office's report and recommendations.
An interim report on the investigation is expected to be handed over to vice-chancellor, Dr James Rose, by next weekend so as to give a broad outline of what might have transpired.
The final report is expected to be delivered a while after that.