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Govt Leapfrogs to 2010 Accounts

Leapfrogs to 2010 AccountsAntigua 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decision was intended to keep knowledge of the country’s financial standings current and helpful, rather than focus on outdated numbers.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.


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21 Comments In This Article   

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RE: Govt Leapfrogs to 2010 Accounts

#21 Waiting for King » 2012-03-07 00:38

JUST Do THE RIGHT THING FOR ONCE AND EXTRADITE LEROY KING

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 :lol:
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Waiting for King

You see

#20 Lester Baldwin » 2012-03-06 22:46

You see what happens when we allow someone to get away with not presenting a simple audit for a concert (Romantic Rhythm). Now he not only took his inch but he wants the whole yard now. Who is he trying to fool? First graders? Everyone knows they didn't have any money left to spend by 2010. ALL THE MONEY was spent between 2007 - 2009. That was when the treasury of Antigua & Barbuda was sodomized by a bunch of reckless spenders and now they don't want to account for it. These people really think everybody fooly!!!
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Lester Baldwin

RE: Govt Leapfrogs to 2010 Accounts

#19 Shame Shame Shame » 2012-03-06 18:54

Harold Lovell, Baldwin Spencer and UPP what next....ah fu you subben, do whatver you want... all ah ar you going straight to jail.
Shame, shame shame!
Antiguans and Barbudans arise, open up your eyes.
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Shame Shame Shame

@ B-Easy & Morris

#18 Beauty » 2012-03-06 15:10

I absolutely agree with you two, we need accounts for those years.

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.
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Beauty

Francella(what are you incharge of the dunce caps)

#17 ANTIGUAN WOMAN » 2012-03-06 14:03

Although no one reading this actually knows who you are personally,you should be ashamed to even pen your name to comments as silly as this,what a clear lack of commonsense,my 2 yr old nephew could do better than this,as the host of uncut would say,Dunce+dunce == dunce squared,no wonder we have it so in Antigua.
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ANTIGUAN WOMAN

RE: Govt Leapfrogs to 2010 Accounts

#16 ANTIGUAN WOMAN » 2012-03-06 13:12

Did we time travel to 2010? How convienient!!
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ANTIGUAN WOMAN

We are in charge!! UPP all the way!

#15 Francella » 2012-03-06 12:48

My party the UPP is in charge. So Lovell can decide to leave out those years for now if he wants to. It is his decision as the man incharge of the counrty's finances. And for all you who hate my party, beat us at the polls in the next 2 years. I know for sure the ALP can't. So wonder which party will form that can dethrone the Mighty UPP? None!!
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Francella

RE: Govt Leapfrogs to 2010 Accounts

#14 DadliMan » 2012-03-06 12:45

Lovell, so does that mean that the disaster that was Romantic Rhythms has been put to bed? Can an Auditor sign-off on an audit for a year without the preceeding years being audited?

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.
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DadliMan

STAND UP!!

#13 Reader » 2012-03-06 12:27

Mr. Lovell is only doing this because HE CAN!! Unless and until the citizens of A&B stand together and demand accountability, this will continue to occur.

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
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Reader

@ Dig It

#12 Morris » 2012-03-06 10:58

What is so troubling about this proposal is that it does not afford anyone to challenge discrepancies prior to 2010, and al of that will get swept under the rug. Then come 2013, it will be said that those years are old news. This convenience instead of transparency has got to be the clearest indication yet of dereliction of duties.
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Morris

Judge Dredd

#11 tenman » 2012-03-06 10:29

Judge Dredd I suspect it can be done. The accounting firm, I would think, would have to state that the opening balance are unaudited. There is an international standard called ISA 510 (google it for more details on the added steps needed), Initial Audit Engagements - Opening Balances which the auditor would have to adhere to. Persons for years (at least since 2006) have suggested that we go this route. As Frogie suggests, the government's PR person Mr. Henry stated this was not possible.


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tenman

FROGIE

#10 tenman » 2012-03-06 10:07

FROGIE yes you did hear "Fled" say that. However why are you surprised that he presented wrong info. He also stated that immigration was not holding passport for non national children,which Cort later confirmed they had been doing. When you have persons who whether purposefully or accidentally forget their account balance to the point where at least one business has to have their picture up as someone not to do business with, why would you trust anything they say?
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tenman

@Morris

#9 Dig It » 2012-03-06 09:50

Morris, you hit the nail on the head!" Lovell, now has time to cook the books, and, stir the pot to fit his needs! He thinks that this sort of "incompetence" is acceptable by the people, and, no one should say anything about it! How can we focus on accounts for 2010, and, not knowing the ones from 2007 to 2009? The public desreves to know the numbers for those three years! Those years may be "outdated" for the MP and his cronies but not certainly not the public!
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Dig It

Truly Amazing

#8 Judge Dredd » 2012-03-06 09:47

Will any right thinking citizen of this country regardless of political bias accept this?
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.
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Judge Dredd

RE: Govt Leapfrogs to 2010 Accounts

#7 ANTIGUAN WOMAN » 2012-03-06 09:37

So i guess the other yrs were non-existence,w e paid taxes all those yrs and would really like to know how those moneys were spent.This is absolute nonsense to think you can just come with this strategy and get away with it.get real. We are not as foolish as you think we are.What are you trying to hide??
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ANTIGUAN WOMAN

@ Reality

#6 Pied Piper » 2012-03-06 09:35

There are rumors in the wild of a list with names of Antiguans/Barbu dans and regional others who were benefactors of these contributors moneys and that this list is not a list for you to show up in court but for names to be scratched-off. Apparantly, these contributors can't touch some benefactors in far-away regions but can to others in some and would settle for that.
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Pied Piper

RE: Govt Leapfrogs to 2010 Accounts

#5 B-Easy » 2012-03-06 09:34

Mr. Lovell are you freaking kidding me?!?! Is this keeping with best business practices that no accounting is conducted and submitted for shareholders to review and scrutinize? Afterall, government is a business, big business, and we the citizens are the shareholders.

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!!
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B-Easy

Absolute nonsense!

#4 Morris » 2012-03-06 06:55

It is imperative that the citizens get the numbers for those years to see how their hard earned tax dollars were spent. Failure to present the numbers certainly gives the impression that there is a lot to hide, and will leave a bitter taste in the mouths of the citizens. Laziness and excuses should not be accepted from the minister.
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Morris

RE: Govt Leapfrogs to 2010 Accounts

#3 FROGIE » 2012-03-06 06:53

I thought I use to hear Winston Henry (Fled) that all accounts had to be brought up-to-date before the current year's account could be dealt with? This seems to be the exact opposite of what "Fled" was feeding the public.
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FROGIE

RE: Govt Leapfrogs to 2010 Accounts

#2 STEVE » 2012-03-06 06:51

Based on this story it is clear to me that we have to watch what is happening at the Electoral Commission. Some sort of an election must be in the air. IT IS NO MISTAKE THESE YEARS "HAVE BEEN PUT ON THE BACK BURNER".
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STEVE

RE: Govt Leapfrogs to 2010 Accounts

#1 Reality » 2012-03-06 03:59

So you just want everyone to forget the subsidy provided by Sir Allen's "contributors" (or so you think)!

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.
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Reality

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