THE BARBADOS REVENUE AUTHORITY (BRA) has a million-dollar problem with “bounced” cheques.
According to the latest Auditor General’s Report, the amount involved at the end of the 2014-2015 financial year stood at $1.3 million.
This was highlighted in the 2015 Auditor General’s Report which has also queried the efforts made to recover the outstanding amounts.
Auditor General Leigh Trotman disclosed that 297 cheques that were offered as payment to the BRA had been subsequently dishonoured by banks.
“There was no evidence presented to the Barbados Audit Office to show that the authority made any effort to recover the outstanding amounts as required by the Financial Rules. This will result in the authority having difficulty in collecting the outstanding funds, since the longer amounts are outstanding, the more difficult it will be to recover them,” he added. (ES)
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