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Country Focus Governance Environment & Climate Polity & Governance

Colombia orders a forensic audit of its Fondo para la Vida y la Biodiversidad

Colombia's Ministerio de Ambiente y Desarrollo Sostenible has ordered an external, comprehensive and forensic audit of the Fondo para la Vida y la Biodiversidad, a fund for environmental action that holds more than 3 billones de pesos. The audit will examine where the money came from and how it was used, how it was managed financially and in trust, and how contracts were awarded, supervised and paid. It covers the period from 30 November 2023 to 7 August 2026, and the firm will be chosen through a public tender whose market study closed on 23 October. The ministry said the fund had no document management system, so key records sat on contractors' computers and had to be secured through formal requests. It listed for verification 590 service contracts signed over the past two years worth more than 255 mil millones de pesos. Results are to be published in the first half of 2027. Fabio Arjona is the Minister of Environment and Sustainable Development.

Money under review: more than 3 billones de pesos Audit period: 30 November 2023 to 7 August 2026 Service contracts listed: 590, worth more than 255 mil millones de pesos Results due: first half of 2027
Why it matters for exams: A forensic audit traces where money came from and where it went, as against a financial audit that only certifies accounts, and this is a clean example of that distinction in public environmental finance.
Kerala PSCUPSC

In plain words

Forensic audit An audit that traces the origin and use of funds for evidence — It goes beyond certifying accounts and looks for how money actually moved.

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