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State enterprises still lax on financial reporting
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It is a month shy of two years since the
Public Finance Management Act has been passed in Parliament, but several state agencies are yet to present up-to-date financial statements, Minister in the Ministry of Finance Ryan Straughn has told
Barbados TODAY.
But in giving an assurance that this and other objectives under the law were not lost on Government, Straughn reported that outstanding financial reporting of Government agencies will soon be presented.
Straughn said key training of accountants and other changes relating to public finances and procurement procedures should be in place by the start of the next financial year, in April 2021.
December 18, 2020
Government’s Adopt-a-Family programme received a $15, 000 boost, as Minister in the Ministry of Finance Minister Ryan Straughn promised more social protection programmes to help vulnerable Barbadians in the coming months.
He gave the assurance as the president of the Institute of Chartered Accountants of Barbados (ICAB), Lydia McCollin, donated the money at Government Headquarters, pointing out that it was the association’s charitable donation this year from its week of activities in November.
“We thought that the Adopt-a-Family programme was the ideal thing for us to donate to this year, especially coming around Christmas when people expect to celebrate more within their families,” said McCollin.
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Minister in the Ministry of Finance, Ryan Straughn (second left), and Acting Permanent Secretary in the Ministry of Finance, Octavia Forde (left), receiving the cheque for the Adopt Our Families Programme from ICAB president, Lydia McCollin (second from right) and executive director, Kathy-ann Hewitt. (BGIS) Social Share
The days of having an Auditor General’s report that highlights a myriad of accounting inconsistencies and financial irregularities in Government departments, may soon be at an end.
This is because come April 1, 2021, Government will be rolling out its accounting service, which will provide uniformity in training and protocols, said Minister in the Ministry of Finance, Ryan Straughn.
Article by All Clear at Ellerslie Social Share
Attorney General Dale Marshall says Government remains committed to completing a suite of legislation on corruption and go after perpetrators.
An amended Prevention Of Corruption Bill will be back in Parliament in the new year, legislation will be drafted to facilitate whistleblowing, and a Freedom of Information Bill is to be completed, Marshall told participating in an online forum Wednesday entitled The Fight Against Corruption In Barbados. It was organised by the Institute of Chartered Accountants of Barbados (ICAB) in association with Integrity Group Barbados (IGB).
The Prevention of Corruption Bill was defeated a few months ago as senators took issue with the exclusion of judges from scrutiny and possible prosecution.