Articles

Fri 5th Jul 2019

Open letter to The Constitutional Head of Saint Vincent and the Grenadines, Her Majesty Queen Elizabeth 11, Buckingham Palace, London, SW1A 1AA.

5th July 2019

Madam,

Prime Minister Dr Ralph Gonsalves and the ULP Regime has failed Audit of Public Accounts in accordance with the provision of Section 75 (2) of the Constitution of Saint and the Grenadines and the Audit Act 2005 for 2008, 2009 and 2010. The Audit was carried out by The Constitutionally Appointed Director of Audit. These Failed Audits were presented to the Saint Vincent and the Grenadines House of Assembly pursuant to Section 12 Audit Act 2005 and Prime Minister Dr Ralph Gonsalves has not resigned.

The Black Poor and Powerless Indigenous Population of Saint Vincent and the Grenadines have been pushed to the ground in very deep poverty, destitution and squalor under the grossly incompetence of Prime Minister Dr Ralph Gonsalves outrageous failure of Audit for 2008, 2009 and 2010

The following are components of gross incompetence by unqualified Prime Minister Dr Ralph Gonsalves as Saint Vincent and the Grenadines Minister of Finance:

Audit examinations carried out have revealed the following issues of particular concern for the year 2008:

Accountant General’s current account was not reconciled with the National Commercial Bank (NCB) account:

Accountant General Balance $185,142,677.08 OD

National Commercial Bank $72,217,098.87 OD

Difference $112, 925, 58.21

The figure of $187,727,750.00, reflected in the Treasury Account as Public Debt, did not agree with the figure of $772,879,366.50 (206,156,938.50 + $566,722,428.00 quoted on the Statement of Public Debt and Schedule of Loans.

‘The accuracy of the assessment of revenue at the Inland Revenue Department could not be verified due to non-access to the records. Because of the significance of the matters described above, I have not been able to obtain sufficient appropriate evidence to provide a basis for an audit opinion. Accordingly, I do not express an opinion on the financial statements’ said the Director of Audit.

(Source Audit Report 2008 – Research Ivan Bertie O’Neal BSc (hons), MSc, MBA)

Audit examinations carried out have revealed the following matters of particular concern for the years 2009 and 2010:-

Large amounts of advances made by the Accounting Division have remained outstanding for several years. As at 31st December 2009 and 31st December 2010, outstanding Advances totalled
$22, 522, 831.67 and $22,224,905.49 respectively.

The figure of $285,014,459.00 reflected in the Accounting Division accounts as Public Debt did not agree with the figure of $866,731,111.00 ($285,014,459.00 + $581,716,655.00) quoted on the Statement of Public Debt and Schedule of Loans respectively for 2009.

The figure of $201,607,142.87 reflected in the Accounts in the Accounting Division accounts as Public Debt did not agree with the figure of $955,297,710.07 ($201,607,142.87 + $753,690,567.20 quoted on the Statement of Public Debt and Schedule of Loans for 2010.

No statement of reconciliation was produced to account for the difference in the overdraft balance of $50,947,228.76 (118,579,380.27 - $67,632,151.51) between the balances recorded on the Statement of Assets and Liabilities/Accounting Division accounts and that in the Accountant General’s Current account at the National Commercial bank for 2009.

No statement of reconciliation was produced to account for the difference in the overdraft balance of
$13, 369,930.33 ($58,174,743.69 - $44,804,813.36) between the balances recorded in the Accountant General current account at the National Commercial Bank and that on the Statement of Assets and Liabilities / Accounting Division accounts for 2010.

The figure of $458,309,193.88 on the Consolidated Fund account reflected on the statement of Assets and Liabilities did not agree with the figure of $403,523,821.90 quoted in the Accounting Division accounts for 2010.

The Constitutionally Appointed Director of Audit has stated ‘Because of the significance of the matters described above, and comments mentioned otherwise in this report, I am of the opinion that the financial statements presented for audit did not in all material respects fairly represent the financial position of the Government of St Vincent and the Grenadines as at 31st December 2009 and 31st December 2010’.

(Source Audit Reports 2009 and 2010 – Researched Ivan Bertie O’Neal BSc (hons), MSc, MBA)

Vincentian-Born, Retired British Royal Air Force Engineer Warrant Officer Ivan O’Neal BSc (hons), MSc, MBA and Leader of SVG Green Party, spent three years full time reading for his BSc (hons) degree in Accounting and Finance and Economics at Oxford Brookes University, England very strongly contend that Prime Minister Dr Gonsalves failures of St Vincent and the Grenadine 1979 Constitutional Audit for 2008, 2009 and 2010 are very serious and totally unacceptable.

Prime Minister Dr Ralph Gonsalves must resign for outrageous and unacceptable failures of Audit for 2008, 2009 and 2010 as given above.

Yours Respectfully

Warrant officer Ivan Bertie O’Neal BSc (hons), MSc, MBA.
Leader of SVG Green Party

CC: His Excellency, The Governor General of SVG
Hon. Prime Minister of SVG
Hon. Leader of Opposition
His Excellency, President of Singapore
Hon. President World Bank
Hon. President of IMF
Hon. President Caribbean Development Bank

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