debut: 2/16/17
39,579 runs
T&T...State enterprises get ‘fair warning’
Prime Minister Kamla Persad-Bissessar yesterday gave “fair warning” to all State enterprises that they must get their houses in order and file up-to-date audited statements.Speaking at yesterday’s post-Cabinet media conference at the Red House, Port of Spain, the Prime Minister said some companies like Caribbean Airlines (CAL) had not filed their financial statements since 2015.
“I believe CEPEP did not file for a five-year period and is still receiving about half a billion dollars. I also believe CAL has not filed since 2015, so their new board will soon call on the CEO to account,” she said.
“If they fail to comply, then we will see what action can be taken,” she said.“They did not file their audited financial statement, which is required to be done annually,” she said.She added that the State Enterprises Performance Manual states that annual financial statements must be submitted four months after the end of the financial year to the line ministry.
Municipal bodies were also guilty of not providing proper financial statements for audit.“Many culprits, some being UNC-controlled corporations and some PNM-controlled,” the Prime Minister said.She said every regional corporation had a number of years outstanding for audit, with the “biggest culprits being the Couva-Tabaquite-Talparo and the Diego Martin Corporations, which have had no audited accounts for the last 15 years; Tunapuna/Piarco, which has not audited its accounts for the last 12 years; and Point Fortin, which had no audited accounts for the last ten years”.She said the Princes Town Corporation only had one year outstanding, “so it shows that these accounts can be submitted when there is a will to do so”.
Prime Minister Kamla Persad-Bissessar yesterday gave “fair warning” to all State enterprises that they must get their houses in order and file up-to-date audited statements.Speaking at yesterday’s post-Cabinet media conference at the Red House, Port of Spain, the Prime Minister said some companies like Caribbean Airlines (CAL) had not filed their financial statements since 2015.
“I believe CEPEP did not file for a five-year period and is still receiving about half a billion dollars. I also believe CAL has not filed since 2015, so their new board will soon call on the CEO to account,” she said.
“If they fail to comply, then we will see what action can be taken,” she said.“They did not file their audited financial statement, which is required to be done annually,” she said.She added that the State Enterprises Performance Manual states that annual financial statements must be submitted four months after the end of the financial year to the line ministry.
Municipal bodies were also guilty of not providing proper financial statements for audit.“Many culprits, some being UNC-controlled corporations and some PNM-controlled,” the Prime Minister said.She said every regional corporation had a number of years outstanding for audit, with the “biggest culprits being the Couva-Tabaquite-Talparo and the Diego Martin Corporations, which have had no audited accounts for the last 15 years; Tunapuna/Piarco, which has not audited its accounts for the last 12 years; and Point Fortin, which had no audited accounts for the last ten years”.She said the Princes Town Corporation only had one year outstanding, “so it shows that these accounts can be submitted when there is a will to do so”.
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