Annual Report 2021

2021 ANNUAL REPORT
TRANSFORMING TOMORROW...!
Statement of Management’s Responsibilities
Management is responsible for the following.
• Preparing and fairly presenting the accompanying
financial statements of Trinidad and Tobago Chamber
of Industry and Commerce (the “Chamber”), which
comprises the Statement of Financial Position as at
31 December 2021, the Statement of Profit or Loss,
Statement of Changes in Equity, the Statement of Cash
Flows for the year ended, and notes to the financial
statements, comprising significant accounting policies
and other explanatory information;
• Ensuring that the Chamber keeps proper accounting
records;
• Selecting appropriate accounting policies and applying
them in a consistent manner;
• Implementing, monitoring and evaluating the system of
internal control that assures security of the Chamber’s
assets, detection/prevention of fraud and the achievement
of the Chamber’s operational efficiencies;
• Ensuring that the system of internal control operated
effectively during the reporting period;
• Producing reliable financial reports that complies with
laws and regulations; and
• Using reasonable and prudent judgment in the
determination of estimates.
In preparing these financial statements, Management utilized
International Financial Reporting Standards for SMEs as
issued by the International Accounting Standards Board and
adopted by the Institute of Chartered Accountants of Trinidad
and Tobago. Where International Financial Reporting
Standards for SMEs presented alternative accounting
treatments, Management chose those considered most
appropriate in the circumstances.
Nothing has come to the attention of management to indicate
that the Chamber will not remain a going concern for the
next twelve (12) months from the reporting date, or up to
the date the accompanying financial statements have been
authorized for issue, if later. Management affirms that it has
carried out its responsibilities as outlined above.
Charles Pashley
President
2 nd March, 2022
Ian De Souza
Chief Executive Officer
2 nd March, 2022
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Financial Statements