By John Seeram
Is the Government of Guyana producing annual and half yearly financial statements (FSs) that contain accurate information? Are these FSs complying with international public sector accounting standards, international financial reporting standards, and international accounting standards?
This writer is in no way being critical of the FSs of the Government of Guyana (GoG) but needs to raise some observations made of the 2014 statements. In the preparation of FSs, the fundamental principle is that they should be simplified, be as accurate as possible, and provide detailed explanatory notes so that their users can, among others, follow, understand, analyse, and make meaningful decisions. There are many categories of users of GoG’s FSs both external (aid donors, etc) and internal (Parliament, Public Accounts Committee, Cabinet, etc).
It is my understanding that the GoG possesses highly qualified accountants and financial analysts at the
