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Economy
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Tuesday, 06 March 2012 02:30
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By caribarena news
Antigua St John's - Finance Minister Harold Lovell has announced that the government has opted to temporarily forego updating the country's 2007-2009 accounts, and instead complete the records for 2010 and submit those to the director of audit.
Minister Lovell said the decision was intended to keep knowledge of the country’s financial standings current and helpful, rather than focus on outdated numbers.
“The fact is we are prepared to say publicly that the relevance of accounts that have several years between them are not as helpful to the nation as accounts which relate to a period that is much shorter,” the minister said.
He added that while previously, the focus was to bring the books up-to-date sequentially, the government believes this new move better serves the country’s interests.
“Therefore, we have leapfrogged the 2007, 2008, and 2009, and have presented the 2010 records to the director of audit, and we expect that he will work expeditiously to have these accounts ready so that they can be placed before Parliament,” the minister said.
He assured that the government would continue to work on those three years, and they would be presented no later than September.
The finance minister said when the budget is presented later this year, he will have all the accounts fully up-to-date.
Further, Lovell said, “The department of audit has been labouring under some challenging circumstances whereby its accommodation has not been suitable for 'proper and adequate productivity'. And government has made arrangements for the department to be moved to a different premises being fully renovated at the corner of St Mary’s and Temple Streets (the former law library)."
He said most of the work has already been completed.
21 Comments In This Article
RE: Govt Leapfrogs to 2010 Accounts
Then you will have more to worry about then inventing accounts for 2007 - 2009. I bet old Errol is hoping he stays in Antigua ROFL
Waiting for King
You see
Lester Baldwin
RE: Govt Leapfrogs to 2010 Accounts
Shame, shame shame!
Antiguans and Barbudans arise, open up your eyes.
Shame Shame Shame
@ B-Easy & Morris
However I would like to ask all the bloggers, of the years with financial statements whether audited or not, do we the public ever see and scrutinise them? Have they been debated on in the public, have we ever questioned figures presented? How many of us read the gazette to see them or go to the govt printery to get a copy? I just wonder if accounts are done and audited or not, if there is really a difference in the eyes of the citizenry.
We the citizens need to be more responsible and hold our politicians feet to the fire.
Beauty
Francella(what are you incharge of the dunce caps)
ANTIGUAN WOMAN
RE: Govt Leapfrogs to 2010 Accounts
ANTIGUAN WOMAN
We are in charge!! UPP all the way!
Francella
RE: Govt Leapfrogs to 2010 Accounts
The taxpayers in A&B deserve to know how their hard-earned tax dollars were spent. This is not like primary school where you can erase the board and start over. We want an accounting of our monies!! These people have taxed us to the hilt; they have borrowed ridiculous sums of money in our name; they have spent our hard-earned tax dollars with reckless abandon; and we have nothing to show for our pain and suffering.
DadliMan
STAND UP!!
Examples are to long to list, but include Romantic Rhythms, Fencing, Power Plant, Car Park, and let's not forget the perpetual court cases that this government can't seem to win. How much does all of this cost A&B, a third world country with very limited resources?
WAKE UP ANTIGUA AND STAND UP FOR YOUR DIGNITY. YOU HAVE BECOME ONE OF THE LAUGHING STOCKS OF THE WORLD
Reader
@ Dig It
Morris
Judge Dredd
..
tenman
FROGIE
..
tenman
@Morris
Dig It
Truly Amazing
I can't believe Harold Lovell really said and proposed this course of action. How will they start 2010 without an opening balance from the previous year?
I would love to hear the Chartered Accountants Association on this matter.
Somebody needs to go to jail. And we thought the ALP was bad.
Judge Dredd
RE: Govt Leapfrogs to 2010 Accounts
ANTIGUAN WOMAN
@ Reality
Pied Piper
RE: Govt Leapfrogs to 2010 Accounts
It is imperative that proper accounting be conducted and the figures made pubilc. You cannot selectively choose when to and when not to publish these figures.
It is our business you are running, It is in our best interest, it is our future. WE HAVE A RIGHT TO KNOW!!
B-Easy
Absolute nonsense!
Morris
RE: Govt Leapfrogs to 2010 Accounts
FROGIE
RE: Govt Leapfrogs to 2010 Accounts
STEVE
RE: Govt Leapfrogs to 2010 Accounts
The balance of accounts from the mid 1990's until 2009 showed a significant debt, but since Antigua's Knight is now in the pokey, some think the debt need not be repaid.
Maybe it will be in money, maybe it will be in blood. I doubt the South and Central American "contributors" will be as patient and understanding as their counterparts in the US and now miniscule Antigua is left alone with no real world protection except to beg the Chinese.
Good luck with that.
Reality
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