Montserrat Customs and Revenue Service Ends Two-Week Training Course in Auditing and Analyzing Financial Statements

Thirteen members of staff both from the Inland Revenue Division and the Customs Division are now better equipped to deal with tasks associated with auditing and analyzing financial statements.

And this, after they participated in a recent two-week training course for the Montserrat Customs and Revenue Service (MCRS) in “Auditing and Analyzing Financial Statements.”

The training exercise, which ended on April 26, was put on by the Caribbean Regional Technical Assistance Centre (CARTAC).

The closing activity was held in the MCRS conference room at Government Headquarters with the participants who completed the course receiving certificates. It was a moment of pride for the participants, the facilitator and the local organizing team.

Facilitator provided by CARTAC, Ms Ingrid Johnson, explained that it was tough going as all the participants were not at the same level at the start, as the officers from the customs division were never exposed to auditing of financial statements as their audit work is of a different format.

She however said that she was pleased to see that at the end of the course, all participants got a good grasp of the subject and could now look at financial statements submitted by clients and make informed decisions.

During the closing activity, participants, Mr. Roland Irish and Ms Marlene Cooper from the local organizing committee gave remarks about the training.

In addition, Ms Johnson, the facilitator, and Mr. Peter White the Director General of the MCRS made comments.

In his remarks, Mr. White made the point that tax administration is an important part of public administration, so this course was important as they must be in a position to get a good understanding of how their clients the taxpayers are doing.

He adds that it is the department's stated commitment to ensure that all its clients are treated fairly and as well to make sure they pay their fair share of tax.

The Director General says it is important that their officers can properly interpret and understand the information provided to them in the various financial statements and be able to match such information with what is taking place.

Mr White says the training activity is useful as it helps to support their planned submission to merge their IRD and Customs Audit Units.