TT – Pan Trinbago officials were unable to present audited financial statements at the steelband body’s Annual General meeting yesterday because of an outstanding debt of $640,000 owed to its auditors. The AGM was held at the Queen’s Park Savannah.
This was the second consecutive year audited financial statements were not presented at the organisation’s AGM.
The debt to PKF Chartered Accountants & Business Advisors forms part of a $60 million debt the Beverley Ramsey-Moore led Pan Trinbago executive were faced with when they took office. This bill has since been reduced by $18 million.
Treasurer Gerard Mendez reported that money was owed to steelbands, lawyers, staff and service providers, including auditors.
“By letter dated July 31, 2018, PKF Chartered Accountants & Business Advisors, our auditors, informed us that they would require the payment of all outstanding feeds for the 2016 and 2017 audits in order to commence work on the 2018 audit,” Mendez said.
“So far, this debt has been one of those which we have been unable to liquidate. As a result, I ask you to please accept our sincere apologies, as we are again unable to present audited accounts for 2018, especially as those for 2017 have not been completed as yet. All efforts are being made to address this situation, with a view of having it rectified as soon as we are able to liquidate our debt.”