by Joel Julien - Trinidad Guardian
There is “significant doubt” about Pan Trinbago’s ability to continue as a “going concern” in the light of a $34.5 million debt facing the organisation, PKF Chartered Accountants and Business Advisors has stated in its latest independent auditors’ report of the organisation...
...Last Saturday PKF delivered its independent auditors’ report of Pan Trinbago.
“We draw attention to Note 2 in the financial statements which discloses that the Organisation has an Accumulated Deficit of $10,485,685 as at 30 June 2016 and its liabilities exceed its current assets and investments by $14,954,960 as at the year end. Additionally, International Conference and Panorama, a subsidiary of Pan Trinbago, has outstanding liabilities totalling $9,081,621 which the Organisation may be liable to pay in the near future,” PKF stated in the Emphasis of Matter section of the report.
“These conditions indicate the existence of a material uncertainty that may cast significant doubt about the Organisation’s ability to continue as a going concern. Our opinion was not qualified in respect of this matter,” PKF stated.
PKF Independent auditors’ report came out at a time when the operations of Pan Trinbago are being questioned...
Replies
Patrick where are you. I'm waiting for your take on this.
Byron Serrette is like an arranger arranging the SAME TUNE for FIVE DIFFERENT BANDS. He is going to different media outlets and reshaping the story each time in his bid to stay in the limelight and become the NEXT PRESIDENT of PAN TRINBAGO.
who would u like to see run pan trinbago
it is a trini thing and he or she too would be embroiled in a year or so
$$ is a hard thing to manage when it is given too freely
the min of culture aint going no where
a lot of folks were against arnold too and before that
Claude there is not enough lipstick and perfume to disguise who Byron Serrette is. This PKF report is damming. It will be hard for government to justify turning over a penny to Pan Trinbago for 2017. Minister Dolly will come out looking as professional idiot if she allows any money from government into the hands of this current Pan Trinbago executive board.
bugs
Bugs: I don't want to cry down Minister Dolly any more. Everything is coming to light so people could come to their own conclusion. But I will tell you this. How come the debt had to come to $34.5 million before the crisis became a media topic of discussion. When the debt was FIVE MILLION I started to announce it over and redundantly over again on this forum. And I did not pull that number out of the PACIFIC OCEAN.
The question is if the first run up of FIVE MILLION DOLLARS was very widely known ALL OVER TRINIDAD even to filter out across the globe -- HOW COME NOBODY DID OR SAID ANYTHING.
When I saw Rowley and Dolly take office and deliberately stay so far away from KEITH DIAZ I was sure that they knew what was going on. I know for a fact that they CANNOT take a HARD LINE against DIAZ and things will return to normal in this HEADLINES FOR A DAY WORLD that we live in.
But if the PAN PLAYERS can't go and line up outside the Ministry of Culture and demand their $1000 then we should not be pleading their case on this forum. On the other hand ah giving Rowley and Dolly two weeks to PAY THE PAN PLAYERS and if they don't deliver I am thinking seriously of setting a ONE MAN WEBSITE and making life miserable for everybody.
Beyond that I think that BRYON SERRETTE is a MARKED MAN. With all the violence in Trinidad and the links between Diaz and Bakr and the Black Muslims -- I don't see SERRETTE surviving this betrayal of KEITH DIAZ without serious retribution.
Nah... Serrette safe. Merrytones says this is only a lovers quarrel. Plus Serrette has obviously been planning this move for some time now. All his papers are in order. He knows where all the bodies are buried. And he has brought a new brand of lipstick and perfume. That old saying about lipstick on a pig will not apply to him. Keith Diaz signature is on all the financial reports. A serious case of dereliction of duty. Like in most gansta movies, the bossman never knows when he is done or what hit him.
The only way for Diaz to get out of this is to blame DePhoto for hiding everything from him.
bugs
Bugs: Talking about serious concussion, boy. The Warriors losing! Trump losing! NFL ratings dropping! And now my hero Keith Diaz is being accused of stealing $34.5M -- sometimes you just cannot win a hand!!!
Ah leave out the part where ah Next YANKEE is the GLOBAL AMBASSADOR for PAN quite in ASIA!
That Yankee took totally different path. he didn't try to go through the door where there were already thousands on line. Plus he is real good at what he does.
Oh... And the Warriors need to score 400 point to win a game.
bugs
The Government will make sure pan players get their money from that last $5 mil. everything out in the open now.
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