Category Archives: News


How deep is corruption in Africa?

In Nigeria, the international oil giant Shell admitted that it inadvertently fed conflict, poverty and corruption through its oil activities in the country. Nigeria contributes to about 10% of Shell’s global production and is home to some of its most promising reserves, yet the country is steeped in poverty and conflict. According to Shell, it has been difficult to operate with integrity in areas of…

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Oil in Africa: A Special Report by Boston Globe

About this series The fate of Africa’s huge crude oil reserves is important not just for Africans, but also for Americans, who use millions of barrels of oil imported from Africa every day. In this three-part series, the Globe’s Africa bureau chief, John Donnelly, examines the issue. Read more: http://archive.boston.com/news/specials/oil_in_africa/


OPM: Failure to Pass FATCA Could Mean Economic Hardship

Your grocery bill, transportation costs, everyday banking transactions and the overall ease of doing business will be negatively impacted, if we fail to pass legislation to enforce the Foreign Account Tax Compliance Act (FATCA), when it returns to Parliament in February. FATCA legislation, once enacted, has little direct impact on Trinidad and Tobago citizens. The law was designed to identify US persons living abroad or…

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Trinidadian Firm Blacklisted by IDB for Fraudulent and Collusive Practices

A former coordinator of a security programme and a Trinidadian firm that has been supplying medical equipment, have both been blacklisted by the Inter-American Development Bank (IDB) for fraudulent and collusive practices. Banned: Khemraj Rai The Coordinator of the Citizen’s Security Programme, Abel Khemraj Rai, was for banned eight years from August 23, 2016 to August 22, 2024. Four other companies and individuals that seem…

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Diplomat to repay money

Hours after he was asked to explain his involvement in a bribery scandal, Antigua & Barbuda’s Ambassador to the United Arab Emirates, Casroy James has denied accepting bribe money and has agreed to repay sums, he claims, were paid to him for independent consultancy work. Prime Minister Gaston Browne said in his year-end Cabinet Review that James will be relieved of his position if he…

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Can Nigeria’s president defeat oil industry corruption?

Nigerian President Muhammadu Buhari took power promising to tackle the “mind-boggling” level of corruption in his country’s oil industry. But can he succeed? Although oil is said to account for 75% of the Nigerian economy, no-one knows how much the country actually produces or refines because hundreds of thousands of barrels of oil are stolen every day, at each level of the supply chain. President…

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Former Antigua-Barbuda UN official arrested in bribery scheme

NEW YORK, USA — The former permanent representative of Antigua and Barbuda to the United Nations, John Ashe, was arrested in New York on Tuesday on charges of engaging in a widespread corruption scheme. The current government of Antigua and Barbuda moved quickly to distance itself from Ashe, noting in a statement that he was appointed by the former United Progressive Party government and he…

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Can Ghana combat corruption in oil, gas sector?

Despite Ghana’s very public determination following the Jubilee oil discovery to avoid all the pitfalls associated with corruption and mismanagement, there are increasing fears in the country that Accra may be struggling to meet its transparency goals. Lobby groups are particularly concerned given the rush of recent license awards and are pushing for a moratorium until Ghana’s parliament has adopted a new oil bill to…

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“Big Data” Listed as Top Issue Facing Forensic and Valuation Professionals

NEW YORK–(Business Wire)–In an environment where the exponential growth of information available is changing the way many businesses operate, CPAs working in the forensic and valuation areas have identified big data as the most pressing issue they’ll face in the near future. In addition, 85 percent of respondents to the 2014 AICPA Survey on International Trends in Forensic and Valuation Services anticipate an increase in…

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How To Profit From Accounting Shenanigans — Legally

When it comes to quarterly results, too many companies try to game the system. They tell analysts what they expect to earn in the quarter, and then magically meet or exceed earnings per share ( EPS ) forecasts every time. Do they have a crystal ball at the start of the quarter and know how results will turn out? Nope. They simply make a series…

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