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Richard Espinosa: ‘The error appeared in 2005, it was detected in 2010 and they should have fix it’
Posted On 29 Jan 2016
The miscalculation of the interests of reserve funds that caused a decrease in the accounts of affiliates would have been originated in 2005, according to Richard Espinosa, chairman of the IESS, so he arranged a private independent audit to determine how much excess has been paid and how to recover that money.
In 2005 a computer system was developed, programming failures were later detected. In the resolution of the Governing Board No. 222 of October 16, 2008, the calculation for the performance of the reserve funds was approved. The system should have been programmed for this payment. Who signed it? Ramiro Gonzalez. The State Comptroller both through a special examination and an internal audit lifted information on the payment of reserve funds between 2007 and 2010.
