$11m to firm for audit reviews

This was the response provided by Finance Minister Colm Imbert to a question posed yesterday by Oropouche East MP Dr Roodal Moonilal in the House of Representatives. Imbert, who is also acting Prime Minister, said the amount of money still to be paid to the company is $2,471,721.13.

He said 12 audit reviews have been completed to date. These include a review of Caribbean Airlines Ltd’s (CAL) domestic airbridge subsidy, Community Improvements Services Ltd (CISL), National Flour Mills (NFM) Financial Year 2015 and the National Lotteries Control Board due diligence audit for an international firm in the gaming industry. Among six audit reviews still ongoing are reviews into TTPost for September 2011 audit services, National Helicopter Services 2015 and 2016 financial statements and the National Insurance Board (NIB).

The costs for completed and ongoing audits are: CAL, $474,468.75; CISL, $336,055,28; Education Facilities Company Ltd, $1,786,878.10; Nedco, $393,936.45; NFM, $2,110,421; NHSL, $299,200; Taurus Services, $179,718.75; NP, $1,559,110.63, TTPost, $863,521; WASA, $465,125.63; NIB, $414,414, and TTEC, $500,000.