News
Finance Minister Colm Imbert winds up debate on the budget in the Upper House last October. – Photo courtesy Office of the Parliament
ON MAY 7 CABINET approved the members of a team, recommended by Minister of Finance Colm Imbert, to investigate the understatement of revenue for the financial year 2023 and related matters.
A news release from the Ministry of Finance said, “The investigation team will be chaired by retired High Court judge Justice David Harris and will include David C Benjamin, a former audit director at the Auditor General’s department, and specialists in information technology.”
Government and the Auditor General, Jaiwantie Ramdass, have clashed over the understatement of revenue for the financial year 2023 in the last two weeks.
The team, the release said, will report to the Minister of Finance within two months.
The terms of reference of the investigation, the release said, will include:
What circumstances led to the understatement of revenue in the public accounts for the financial year 2023 and what should be done to avoid a recurrence of this?
The efficacy of the new electronic cheque-clearing system introduced by the Central Bank in February 2023.
The efforts made by the officials at the Ministry of Finance and its various divisions to correct the understatement of revenue, and to advise the Auditor General of the understatement and provide her with an explanation, clarification and further information on it.
What was the response of the Auditor General to the efforts of the public officials described above and what action did the Auditor General take in relation to the understatement of revenue in the audit of the public accounts for financial year 2023?
What are the facts in relation to the allegations and statements made by the Auditor General in her report on the public accounts of TT for the financial year 2023, including the addendum and appendices, with specific reference to the understatement of revenue in the public accounts for the financial year 2023?
Any other related matters.
Findings and recommendations going forward.
