EDITOR, The Tribune.
If The Tribune had a quote of the week, certainly that attributed to MP Kwasi Thompson, MP for East Grand Bahama when he said…paraphrase…we only need to state what we wish to –we don’t state in financial statements everything.
Sorry Minister, not the precise text but close.
This is scary to say the worst – your Government can decide, what it will state in a financial statement and what it will not.
We can’t forget it was the Minnis government, that copied Barbados with the Fiscal Responsibility Act. Sounded great but incredibly, no one in the House of Assembly, picked up that the Government had the legal authority to exclude, whatever they wished from the fiscal and financial statement they issued, as required by the Act one time a report on the calling of an election.
Conclusion….how accurate have been any or all of the financial statements since the Act?
What will Deloitte find? Already suggested a difference – understated of $1bn.
Competent? Well seems not, but all they did was incredibly legal – they wrote the Law so it was.
November 6, 2021,