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A proper verified audited statement prepared by an independent CPA firm will insist on verification and proof. It appears to me, the reports in the website fails to meet global standards.


This is a damn shame as it is unreliable.

In reply to Emir

Maybe, just maybe, because WICB is not an American company they chose to enlist Price Waterhouse, a UK company, to provide the auditing service.

UK methodology, not USA, was used as a result.

In reply to Emir

Do you know hoe to read and understand a Financial Statement?

In reply to Emir

Sarge is coming for you

He will enlighten you

In reply to Narper

He certainly needs enlightening. He is as blind as they come, when it comes to audit reports including American/CPA reports. Maybe he could post a sample of one that would meet the standard he is talking about

In reply to jelfew

De Emir has seen others who have started threads on this topic....so he wants to start one all by himself too
Matters not if he knowledgeable about the topic or not

In reply to Narper

Narps, you are the brightest bulb in the tree

In reply to Drapsey

Draps,
Check out the various types of audit from the British standard vs what a public traded company in the USA must met.

CWI must be treated with the same standard as a US publicly traded company and this is the point I wanted to make.

The statement posted on their web does not meet key standards.

In reply to Emir

Oh dear lord, another one has surfaced!!

I am getting really confused by the confusion here.

The audited financials published were signed by KPMG one of the global big six firms.

The accounts were prepared in accordance with IFRS which is the standard used throughout the Caribbean.The audit followed international standards on auditing.

There is nothing unusual or irregular in either. These threads are the work of the hopelessly ignorant.

In reply to doublecentury

Well said.

In reply to doublecentury

In reply to doublecentury

Hope yuh not talking 'bout my reference to Price Waterhouse. That was the standard when I domiciled in Jamaica, so I assumed it still was.

In reply to Drapsey

No...Jamaica always adopted its own standard in the past but now conforms like most of the world (excluding the United States which still uses its own standard.) to international Financial Reporting Standards. Ironic that it’s the US that doesn’t comply with international reporting standards( the audit standards are the same however)

You are showing your age though because PW Jamaica became PricewaterhouseCoopers in 1998.....but what confused me is CWI auditor is KPMG Antigua not PWC.....

In reply to doublecentury

Shhh... left the shit smell stinker nah?

External auditors only are paid to give opinions and audit (A) company and give their opinions on financial compliance in accordance to that jurisdiction of operating their business. Mine being global have to comply with the IFRS.

Btw - Pressure Cooking cookers are not subject to any audit, just nails ratio to victims audit!

In reply to doublecentury

Where is the confusion? KPMG Antigua and PWC are two different competing auditing firms, competing for business. It is also likely (I cannot verify) that KPMG Antigua is part of the international firm and observe the same international standards and practices.

In reply to jelfewthe standards are set by the location of the business, not where the accounting firm is from.

In reply to camos
Agreed but my take is that these accounting bodies have standards which their member must observe. I don't think that local official laws or standards will be lower than those of these accounting bodies.

So many people clueless about the role and responsibility of the auditor and management, and the content of an audit report, and want to make pronouncements from their position of ignorance