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Tuesday, October 24 2017 @ 05:34 AM AST

Petrotrin fixes 'deferred tax asset' item but keeps accountant, says it could happen again



A scandal on which Finance Minister Colm Imbert blew the whistle, that Petrotrin was hiding worse-than-reported losses as 'deferred tax assets' has seen the company correct the accounts, but retain the accounting firm that okayed what Imbert described as 'creative accounting' under former Energy Minister Kevin Ramnarine.

The company also said it could happen again as the law does so allow.

The following are excerpts from Petrotrin's now audited financials for the year ending September 30, 2016. That's not a typo. It took them that long to do. For the fiscal year before, Oct. 2014 - Sept. 2015, the financials did not come out until January 2016. It was already bad, now it's getting worse.

THE FOLLOWING ARE FROM PETROTRIN'S LATEST FINANCIALS RELEASED LAST WEEK:









******************************** UPDATE AS AT OCTOBER 21, 2017 ********************************

AFTER THIS STORY CAME OUT, PETROTRIN POSTED THIS STATEMENT ON ITS WEBSITE:

The link may of may not work but screenshots are below https://www.petrotrin.com/en/The%20Le...Asset.aspx




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