Wölbitsch/Juraczka: Court of Auditors reveals SPÖ financial scandal | The Vienna People’s Party Town Hall Club, February 28, 2024

2024-02-28 17:20:08

Current raw report shows massive misconduct – findings from the investigative commission are confirmed

Vienna (OTS) – “A present raw report from the Court of Auditors clearly shows massive misconduct in the Wien Energie case and reveals a huge SPÖ financial scandal,” said the club chairman of the Vienna People’s Party, Markus Wölbitsch, and finance spokesman, local councilor Manfred Juraczka, in view of today’s reporting in the daily newspaper “Courier”.

Basically, the SPÖ, assisted by the Neos, left no stone unturned to cover up this scandal and do everything in their power to prevent the investigative commission from clarifying it. “Nevertheless, despite great resistance, essential points of criticism were identified, which have now been largely supported and confirmed by the Court of Auditors,” continued Wölbitsch.

Court of Auditors uncovers deficiencies

According to the daily newspaper “Kurier”, the Court of Auditors found that there were “systemic weaknesses” in risk assessment, limitation, control and reporting in connection with liquidity risk management. Despite the worsening market situation from spring 2022, the management of Wien Energie has not developed any options for action to reduce the liquidity risk of stock exchange trading and to achieve broader risk diversification.

The Supervisory Board did not fully perform its monitoring function with regard to liquidity risk and did not intensify its activities in a critical phase. And the statements in MA 5’s motive report in connection with the emergency authority of the mayor were not suitable for adequately assessing the amount of the requested credit line and its financing by the City of Vienna.

Finally tackle comprehensive reforms

In the meantime, as is well known, the SPÖ has also realized that not everything is going as optimally as it always claims to the outside world. At the end of last year, Wien Energie’s risk management was reorganized and a risk committee was set up on the supervisory board.
Still pending is a professionalization of the City of Vienna’s investment management, a reform of the appointment of the supervisory board and a change to Wien Energie’s business model. In addition, the procedural regulations of the investigative commission and the provisions on emergency competence would have to be revised or made more precise.

“These necessary reforms must finally be initiated now and the recommendations of the Court of Auditors implemented. A scandal of this magnitude must not be allowed to happen again,” concluded Wölbitsch and Juraczka.

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