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No audited HDC accounts since 2006

Friday, April 21 2017

THE Housing Development Corporation (HDC) has failed to submit any audited annual accounts to Parliament since 2006, said managing director Brent Lyons, at a meeting of the Public Administration and Appropriations Committee (PAAC), Tower D, Port of Spain yesterday.

Minister of Public Administration Maxie Cuffie asked how could the HDC function as such, while Opposition Senator Wade Mark said, “It’s a serious indictment”, but not against newly-arrived officials. Saying Parliament gives hundreds of million of dollars each year to the HDC which further borrows on the market, Mark said the lack of accounts was “highly irresponsible” and “a complete absence of accountability.” Lyons said there has been a concerted effort to otherwise now have the unaudited management accounts up to 2016, adding, “The audited accounts will take some time again.” HDC acting manager of finance Inskip Pollonais said that by law the HDC needs to get the nod of the Auditor General to hire an external auditor and had gotten permission for KPMG to audit its accounts up to the year 2009.

He suggested that other auditing firms be brought in to assist KPMG to speed up the audits.



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