Policymakers are being urged to speed up the implementation of anti-corruption legislation and the supporting framework while maintaining a great level of integrity.
At the same time, the local accounting fraternity says it stands ready to assist the Mia Mottley-led administration as it continues to restructure the ailing economy under the Barbados Economic Recovery and Transformation (BERT) programme.
President of the Institute of Chartered Accountants of Barbados (ICAB) Lydia McCollin said it was important that officials operate with a great level of integrity as they continue to rebuild the economy.
She was addressing the official launch of Accountants Week 2019, which is scheduled for November 3 to 9, under the theme Under Construction – Building Blocks to Recovery.
“Ethics underpin all that we do as accountants and just as a solid foundation is needed when constructing any building, ethics must be the foundation of our building blocks to recovery and the driver to stomp out corruption,” she told the gathering at the Radisson Aquatica Resort.
Acknowledging that work was being done by lawmakers to ensure that Barbados ratifies the 2003 UN Convention Against Corruption by enacting the necessary legislation, McCollin said ICAB “looks forward to full and speedy implementation of all legislation”.
Last month Attorney General Dale Marshall again gave assurance that a new prevention of corruption and whistleblower legislation would be introduced, while promising that government would also ratify the UN Convention against corruption by year end and establish a major organised crime and anti-corruption agency.
McCollin said she was aware of government’s focus and commitment and noted that the private sector also had a role to play.
“Recognizing that all citizens are building blocks in the transformation of our Barbados, the Government cannot stand alone in this fight against crime and corruption. Organisations in the private sector must also ensure that their own company policies address these issues and that ethics is the bedrock for conducting business,” said McCollin.
She also disclosed that following a meeting with Minister in the Ministry of Finance Ryan Straughn recently, ICAB had committed to submitting a proposal “in coming weeks” on how that organisation could assist in the reform of state-owned entities and initiatives aimed at improving public financial management.
The ICAB president also used the occasion to call on authorities to give formal recognition of International Anti-corruption Day on December 9 and set up a committee to plan national activities to draw attention to the dangers of corruption and what we can do to prevent and detect it.
During the launching ceremony this morning, which coincided with Global Ethics Day, accounting professionals also called on their peers and government authorities to “do the right thing”, warning that unethical behaviour could have a catastrophic impact on the economy.
Pointing out that the Barbados economy had struggled over the past ten years and was now in the process of recovery, Financial Controller of Brookfield International Bank Inc. Sherry Millar said it was critical that everyone play a part in the recovery effort.
“Under these circumstances we all have a role to play as the burden of recovery should not be placed squarely on the shoulders of government. Yes, there are many building blocks to recovery and we feel that ongoing effective corporate citizenship is one of them,” she said.
Meanwhile, Executive Director of ICAB Kathy-Ann Hewitt said ICAB was “pleased” with the progress being made so far under the BERT programme.
“We still have a long way to go and work is required by all sectors. So far what is good is that the various targets that have been agreed to have been met,” said Hewitt.
marlonmadden@barbadostoday.bb
