17 May 2004

American Samoan bank relents to audit demands

3:23 pm on 17 May 2004

The Acting president of the Development Bank of American Samoa, Suli Sopoaga, has agreed to the Territorial Audit Office carrying out a review this week.

Suli Sopoaga said any delays have been because the board wants to ensure a fair and impartial review of its finances.

She said the bank must also protect the confidentiality of its customers.

Agreement over the offer followed an exchange of letters between Mrs Sopoaga and territorial auditor, George Webster, weeks after the audit office said it wanted to check the government owned entity.

Mr Webster has assured the Bank that the audit will not be a witchhunt.