Breaking up is hard to do, so why not put a ring on audit?

first_imgIt also addresses the suspicion that larger firms use audit as a loss leader to gain more lucrative consultancy services, and that this may affect their audit judgements. This is perception, not reality, but continues to be suggested.ICAEW has long argued that forcible breakup doesn’t necessarily address the choice issue. If smaller firms are looking at the listed audit market and deciding that the risk profile does not work for them, we must ask why creating more such firms is the answer.The option of audit-only firms is also proffered. But were there such demand, surely the market would have created audit-only firms by now? Also, a multidisciplinary firm has access to a wide range of expertise; audit-only firms would have to buy that in – raising costs for businesses.But while splitting firms may not work, the banking sector has demonstrated something that might: ring-fencing.The issues facing banking in the aftermath of the financial crisis were not quite the same as for audit today, but parallels exist. City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. whatsapp Michael Izza Opinion Never have there been more eyes on audit.Sir John Kingman is examining the Financial Reporting Council and how audit can best be regulated. Tags: Trading Archive Friday 23 November 2018 8:13 am Breaking up is hard to do, so why not put a ring on audit? whatsapp How could we protect retail banking arms – which provide a public service so vital to our daily lives that it might almost be a utility – from the risks inherent in the investment wings, while recognising that investment banking generated the large profits?The solution was to ring-fence the core retail banking services. This meant making the retail arm a separate legal entity with its own leadership structure and with dedicated capital, resources, and revenue streams, insulated from other areas of the business.Something similar could be done with the audit arms of large firms.First, it would need to encompass investment. A large accountancy firm looking to invest heavily in new or nascent technology might expect larger returns in the consultancy arm than in audit. Giving audit its own ring-fenced investment stream would negate such commercial pressures.Second, there would be structural issues. Many large multidisciplinary firms do not have auditors in leadership positions. Ring-fencing would mean having a leadership structure where senior managers are empowered to make decisions based around the audit business and its public sector ethics. More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comConnecticut man dies after crashing Harley into live‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldFinancial 10NHL Player’s Wife Is Hands Down The Most Beautiful Woman In The WorldFinancial 10Total PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableyinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.commoneycougar.comDiana’s Butler Reveals Why Harry Really Married The Competition and Markets Authority is investigating competition and choice in the listed audit market.The BEIS Select Committee announced last week that it too will scrutinise audit, and the Audit Quality Forum’s Review is set to explore the future of the audit product, and how it might better meet modern business needs.So many reviews imply consensus both that change is needed, and that no simple answer exists. This is because there is more than one problem.On the one hand, there is the issue of competition and choice, on the other of lost trust. The two are linked, but not the same. The danger is that trying to solve one might exacerbate the other.It is easy to see why “breaking up the Big Four” has become a common refrain. With the market dominated by a few large firms, there are obvious attractions to changing that by diktat. There would have to be clear segregation between service lines, but by allowing people to move between arms, and enabling knowledge-sharing, the twin objections to forcibly splitting off firms – access to knowledge and talent retention – would be obviated.Obviously there would be issues to resolve. Since one of the more frequently raised issues with audit versus consultancy services is how much more profitable the latter is, there would have to be measures to ensure that there were still incentives to enter the audit arm.And it should be stressed that this would not guarantee an end to all corporate and management failures, nor enable auditors to foretell the future.It will not fix the problem of choice; we still need more than four players in the market, we still need challenger firms to scale up and enter the market, and in order to enable this we still need to address the disincentives to entry. Ring-fencing, however designed, can only be part of a package of wider measures.But it would start to address the highly damaging perception that big firms are allowing commercial decisions to unduly affect their audit work. It could provide reassurance to clients and the public around independence, and therefore help rebuild the critical trust necessary for audit to work properly.And, crucially, it would also go some way to guarding against the risk of market exit by one of the major firms, which would be destructive for both the market and the economy.Breaking up may be hard to do, but good fences good neighbours make. last_img read more

Why scientists should learn to fail, fast and often

first_img Tags academic publishingnegative findings Why scientists should learn to fail, fast and often What is it? Silicon Valley runs on failure. Its unofficial motto, after all, is “Fail fast, fail often,” and it is the region that gave birth to FailCon, where stories of entrepreneurial failure are badges of honor.That’s more than just cute marketing. As the New Yorker’s James Surowiecki has written, “In the delusions of entrepreneurs are the seeds of technological progress.” Failures, in other words, are not only acceptable, but beneficial. By Adam Marcus and Ivan Oransky May 12, 2016 Reprints What’s included? Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. Log In | Learn More Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. Alex Hogan/STAT, APStock GET STARTED The Watchdogs last_img read more

Solicitor general recommends Supreme Court rule on biosimilars case

first_img Unlock this article — plus daily coverage and analysis of the pharma industry — by subscribing to STAT+. First 30 days free. GET STARTED What’s included? Pharmalot Columnist, Senior Writer Ed covers the pharmaceutical industry. @Pharmalot About the Author Reprints Pharmalot Log In | Learn More By Ed Silverman Dec. 8, 2016 Reprints GET STARTED Tags legalpharmaceuticalspolicySTAT+center_img What is it? In a development with widespread implications for health care costs, the US solicitor general recommended that the US Supreme Court review a heated dispute over a rule that will determine when lower-cost biosimilar medicines can be launched. And the solicitor general also took a position that may provide a boost to biosimilar manufacturers.At issue is the ability of brand-name drug makers to delay the introduction of biosimilars, which are highly identical versions of expensive biologics, but are expected to cost less. Ed Silverman Solicitor general recommends Supreme Court rule on biosimilars case Alex Hogan/STAT [email protected] Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.last_img read more

In Pictures: Laois Marlins soar to success at Aerlingus Gala

first_img By Siun Lennon – 1st June 2019 GAA SEE ALSO – Embrace FARM support group to hold annual Ecumenial Remembrance service this Sunday WhatsApp The Laois Marlins Swim Club had skeleton squad attend the Aerlingus Short Course Gala on May 25 and 26.Though the squad was small, it was mighty.The young swimmers soared to success in this Level 3 Gala, one of the last qualification chances for the Leinster Division 1 Championships June Bank Holiday Weekend and Irish Age Division 2 Championships at the beginning of July. In Pictures: Laois Marlins soar to success at Aerlingus Gala GAA Here are all of Wednesday’s Laois GAA results Pinterest Home Sport Other Sport In Pictures: Laois Marlins soar to success at Aerlingus Gala SportOther Sport Twitter Facebook RELATED ARTICLESMORE FROM AUTHOR GAA Previous articleLaois woman is third generation of her family to run in London MarathonNext articleLong-serving McDonald delighted to be back again as Bracken increases his vote once more Siun Lennonún Lennon joined LaoisToday in a full-time capacity after studying Journalism and New Media in the University of Limerick. She hails from Rosenallis and her interests vary from news, sports and politics. Pinterest WhatsApp Facebook The Laois Marlins Squad was made up of five girls; Amy Bergin, Orla Colley, Caoimhe Moore, Sadhbh Moore, Daniela Ryan; and four boys; Michael Bergin, Samuel Farrell, Noah Murphy and Matthew O’Sullivan.  Between them these young swimmers took part in 35 individual swims, achieved 19 personal bests and took home a total of 8 medals – two gold, four silver and two bronze. Amy Bergin age 14 took the Gold in the 100m Freestyle and Silver in the 200 Butterfly.Michael Bergin aged 12, had three great swims, finishing just outside the medals in the 100m Back Stroke.Orla Colley aged 12 gave two super swims, finishing just outside the medals in the 200m Back Stroke.Samuel Farrell aged 14 had three strong swims taking the Silver in Both the 200m Individual Medley and 200m Breast Stroke. Caoimhe Moore aged 15 had a cracking day, with five superb swims, achieving the Gold in 200m Breast Stroke, Silver in the 100m Breast Stroke, Bronze in both 50m Freestyle and the 200m Individual Medley while finishing just outside the medals in the 100m Free.Sadhbh Moore aged 12 had thee goods swims with a super performance in the 100m Butterfly achieving a personal best.Noah Murphy aged 15 had four goods swims with a strong performance in the 100m Butterfly.Matthew O’Sullivan aged 10 had three very strong swims, finishing just outside the medals in the 50m Free, 50m Back Stroke and 50m Butterfly.Daniela Ryan aged 14 had four very strong swims with super PBs in 50m, 100m, and 200m  Freestyle and the 100m Back Stroke. The future is looking bright for the Laois Marlins Swimming Team as they Head to the Leinster Division 1 Championships in the National Aquatic Centre this June Bank Holiday Weekend.   TAGSLaois Marlins Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory Twitter 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshinlast_img read more

Exciting line-up confirmed for powerful new festival in Laois this weekend

first_img Pinterest The ‘Power of Words’ Festival is set to take place in Laois this weekend with a simply stunning line-up of guests.The Power of Words Festival is a brand-new festival celebrating words, language and literature in all their shapes and forms, written, spoken, acted and sung which will emerge in Abbeyleix, on the weekend of August 23 to 25.Creating the festival are Amanda Kelly, Evelyn Quinlan, Francine Ashe, Marna Hatton and Noelle O’Connell – a group of like-minded creative people who all share a spirit of inclusion and belonging and who each have a wide range of experience and expertise in producing and delivering creative and community events.The Power of Words Festival will focus on new and emerging writers as well as more established writers.There are some well-established names on the line-up, but there are some other new and emerging talents too.Overall the feel of the festival is refreshing and accessible and if you will pardon the pun, a novel approach, which hopes to grow The Power of Words organically into a sustainable annual festival.Some very notable authors will share their work and expertise, over the festival weekend.Among them are the wonderful Jason O’Neill, Dr. K. Mark Hilliard, Niamh Boyce, John MacKenna, Andrea Carter, Helena Duggan, Shane Dunphy, Caroline Busher and Sheila Forsey.For sporting enthusiasts, the legendary Mícheál Ó Muircheartaigh will be there while so too with parish priest of Abbeyleix Fr Paddy Byrne.A selection of writing workshops will give participants a chance to explore fiction, song-writing and memoir.A number of ‘Open Mic’ sessions throughout the weekend will provide plenty of opportunity for anyone wishing to come along and share their work.‘The Living Poets Society’ is another unique feature of the festival. A chosen ‘Living Poet’ will have their work honoured and celebrated throughout the weekend. The festival’s chosen poet for its inaugural year is Pat Ingoldsby.Laois people will remember Pat Ingoldsby featuring in the Mountmellick Mardi Gras festival back in 1987 in the heyday of his popularity as a presenter of children’s TV.However, the organisers behind The Power of Words are quick to point out that in the intervening years Pat Ingoldsby has produced a moving, powerful and touching body of work relating to mental health and the loneliness of the soul.Poems like ‘True for Me’ are likely to feature in this retrospective tribute to the frail but prolific poet and author.Central to the festival’s aspirations are an open, diverse, relaxed and inclusive spirit and to this end the programme will be an emphasis on children and a series of heritage walks and talks.A great selection of fun and interesting events and workshops are lined up for both, with some of the finer details remaining to be confirmed.Among the venues which will be used across the weekend in Abbeyleix for The Power of Words programme will be Heritage House; Mueller and O’ Connell Bakery; the Conservatory at the Gallic Kitchen, Bramleys; Morrissey’s Pub Sitting Room area; Abbeyleix Library; the lobby in the Abbeyleix Manor Hotel for the intriguingly titled, ‘Letters in the Lobby’ and Abbeyleix Bog, where a recently unearthed 18th century poem of the locality will be read, performed, disclosed, revealed…who knows?There is certainly something in there to whet the appetite of the curious mind for all ages in Laois’ latest festival offering.For further information and ticket bookings, go to website or Facebook page ‘The Power of Words Festival’ or send an email to [email protected] ALSO – IT’S BACK: The search for Laois’s Hottest Men is on!! Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory WhatsApp Pinterest Exciting line-up confirmed for powerful new festival in Laois this weekend 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshin By Alan Hartnett – 19th August 2019 TAGSThe Power Of Words Festival RELATED ARTICLESMORE FROM AUTHOR GAA Twitter Twitter Facebook Facebook GAA GAA Home Sponsored Exciting line-up confirmed for powerful new festival in Laois this weekend Sponsored Here are all of Wednesday’s Laois GAA results Previous articleNo progress in sight for Portarlington relief roadNext articleIT’S BACK: The search for Laois’s Hottest Men is on!! Alan HartnettStradbally native Alan Hartnett is a graduate of Knockbeg College who has worked in the local and national media since 2008. Alan has a BA in Economics, Politics and Law and an MA in Journalism from DCU. His happiest moment was when Jody Dillon scored THAT goal in the Laois senior football final in 2016. WhatsApplast_img read more

OLHI completes another successful year

Share this article and your comments with peers on social media At its annual general meeting held earlier this month the OmbudService for Life & Health Insurance (OLHI) announced another successful year, and the successful completion of its second independent review. OLHI is a national independent complaint resolution and information service for consumers of Canadian life and health insurance products and services. Keywords Life insurance industry,  Dispute resolution Related news IE Staff Facebook LinkedIn Twitter Sun Life Financial buying Pinnacle Care International Manulife, Sun Life report modest impact from Hong Kong turmoil OLHI said total contacts with the public exceeded 66,000 this year, led by a growth in web visits of 35%. It also noted a significant increase in both complaint referrals from insurers and the number of Western consumers using OLHI’s services. “We are pleased that OLHI’s profile with the public continues to grow”, said Dr. Janice MacKinnon, OLHI chairwoman. “Another major highlight has been the completion of OLHI’s second independent review,” added MacKinnon. “The review concludes that OLHI is fulfilling its mandate as an independent forum for consumer protection.” “We are particularly happy with the reviewer’s conclusion that OLHI operates independently from the life and health insurance industry and that its current model for the selection of directors should not be changed,” she said. MacKinnon also clarified that OLHI will continue to handle consumer complaints related to segregated funds. “Segregated funds are insurance products and OLHI has the expertise to handle these complaints. It makes sense that we continue to review them and to refer any related banking or mutual fund complaint to our sister OmbudService, OBSI,” she said. OLHI receives approximately 70 segregated fund complaints annually; fewer than 10% involve a mutual fund or banking component. Further details on notable company events in the past year, including consumer case studies, are contained in OLHI’s 2012 -13 Annual Report now available online. Manulife Canada CEO sees Apple and Netflix as competitors as insurance evolves read more

Your student government: The Student Group Funding Board

first_img Published: Feb. 14, 2014 Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail By Erin Greenhalgh, chair CUSG Student Group Funding BoardAs the chair of the Student Group Funding Board (SGFB), I get a lot of questions from student groups who are looking for funding. It’s no wonder. Information about SGFB is not at all centralized or easy to find. (Coming soon—CUSG’s new website, which will ease some of these problems.) When you can find information, it’s often full of student government jargon, references to documents you’ve never heard of, and so many acronyms. In this article, I will break down the basics of the SGFB so your group can go forth and get funding.What is SGFB? How is it different from other funding boards?There are many boards at CU that fund with student fee dollars: Rep Council, Council of Colleges and Schools (CCS), Arts and Sciences Student Government (ASSG), the Cultural Events Board (CEB), and the SGFB. Because these boards distribute funds that you as a student have contributed to, they all follow guidelines called the Student Fee Regulations, which dictate how to responsibly allocate that money.While all the boards listed above can fund events and travel for groups, SGFB is unique in that we can also give money for operational costs, such as office supplies. SGFB is also able to fund in higher amounts than many of the boards, and is often a good option for student groups. SGFB is governed by the SGFB code, which gives more specific guidelines for how the board should operate.How do I know if my group is eligible for funding?In order to fund with student fee money, we board members need to make sure that as many students as possible will benefit from the spending. Think of it this way—you paid into student fees, so we want you to have the opportunity to enjoy the activities and events they fund.The SGFB code has clear requirements for the kinds of groups we can fund. Your group must be open to everyone—grads and undergrads. You cannot have any exclusionary measures, like accepting only women or men or having a GPA requirement. This means, unfortunately, that in general sororities and fraternities are not eligible for funding. Your group can charge a membership fee, but you have to accommodate people who want to join but are unable to pay the fee.In addition, your group must have regular meetings — at least three per semester — and maintain an account with the Student Organizations Finance Office (SOFO). This means meeting with them at least once a semester to update your signer information and check on the status of your account. SGFB can only fund groups that are in good standing with SOFO.Finally, when you apply for funding, SGFB requires your group to send a copy of its by-laws. This is important so that the board can get a better sense of how your group functions, and so that we can double check that your group meets the open access requirements.If you have questions about your group’s eligibility, you can find more information in Chapter 5 of the SGFB code.How can I apply for funding, and what is the process like?You can find our application online on the CUSG website or the SOFO website. There are several sections on the application; only fill out the ones that are applicable to your request. When filling out the application, be as detailed and specific as you can. The groups who get funding the quickest are those who give a detailed breakdown of the cost of the items they are planning on buying in addition to a description of how these items are important to the mission of their group.When you finish your application, send it to [email protected] Remember to attach a copy of your group’s bylaws as well. I look at the applications every Friday and sort them for the upcoming hearing.Hearings take place every week on Wednesdays starting at 5 p.m. For meeting locations please check the CUSG website. Your group will have up to five minutes to present your funding request and then the board will ask questions. The board will discuss your proposal and vote on an amount to fund. If the board has more questions, we will ask you to add to your proposal and will vote on your funding the following week. If your proposal is clear and detailed, you will get an allocation notice from your liaison by the following night. Then all you need to do is have a short meeting with your liaison and SOFO, and you are free to use your funds.The funding process can seem complicated, but gathering all the information beforehand will help your hearing go smoothly and get you to accomplishing your group’s goals faster. If questions come up along the way, email me at [email protected] or at [email protected]last_img read more

Elkhart Plastics, Inc. Earns Multiple ‘Top 10’ Rotomolding Rankings

first_img Previous articleTrivento Strikes Three-year Deal with Major League SoccerNext articleJoseph Phelps Vineyards Celebrates 45th Napa Valley Harvest Press Release Pinterest Twitter Linkedin Facebook Advertisement Home Industry News Releases Elkhart Plastics, Inc. Earns Multiple ‘Top 10’ Rotomolding RankingsIndustry News ReleasesElkhart Plastics, Inc. Earns Multiple ‘Top 10’ Rotomolding RankingsBy Press Release – September 12, 2017 162 0 center_img AdvertisementELKHART, IN – Elkhart Plastics, Inc. (Elkhart Plastics) is proud to be ranked in the Top 10 categories for overall and custom rotomolding sales in North America according to Plastics News’ 2017 North American Rotational Molders Rankings.For the second year in a row, Elkhart Plastics ranked second in custom rotomolding sales and seventh in overall rotomolding sales. While the top ten positions are the same, the company’s overall sales figures grew from $87 million to $89.6 million in just one year.Plastic News released the rankings in August based on data from fiscal year 2016.“We are proud to rotomold quality products that fit very particular needs,” said Jack Welter, CEO of Elkhart Plastics, “And our sales reflect that pride. We are equally proud of our growth over the last year and excited to achieve even more growth next year.”Since the totals used to determine the Plastic News rankings were released Elkhart Plastics has introduced four new products to the market including plastics pallets, Tuff Stack intermediate bulk containers, Tuff Cube intermediate bulk containers, and KONG Coolers.“I am grateful to Elkhart Plastics team members nationwide for making these rankings possible,” Welter said. “Without our knowledgeable workforce and their dedication to providing quality products and personal customer service none of our achievements would be possible.”Owned and operated in the United States, Elkhart Plastics has five plants with locations in Elkhart, South Bend, and Middlebury, Ind.; Ridgefield, Wash.; and Littleton, Colo.Plastics News ranked Indiana as the second highest state for rotomolding plant locations. Elkhart Plastics owns three of the 17 rotomolding locations located in the state.Elkhart Plastics employs more than 550 people and utilizes 46 rotational machines – the most machines reported amongst Plastics News’ top 100 rotomolders – to design and produce custom and off-the-shelf products for clients around the world.With the slogan of “If you can imagine it, we can rotomold it,” Elkhart Plastics can create a countless number of rotomolded items. Primarily, the 29-year-old business serves the agriculture, construction, heavy truck, marine, RV, and material handling industries.Elkhart Plastics, Inc. is a 29-year-old, privately held American company. One of the largest custom rotational molding companies in the United States, Elkhart Plastics has five plants and more than 550 employees nationwide. Understanding that application drives design, their experience and knowledge can create unique parts using the rotomolding process in addition to producing a number of proprietary items. Email ReddIt Share TAGSElkhart Plastics last_img read more

Henry Awaits Report on Palisadoes Talks

first_imgRelatedHenry Awaits Report on Palisadoes Talks RelatedHenry Awaits Report on Palisadoes Talks FacebookTwitterWhatsAppEmail KINGSTON — Minister of Transport and Works, the Hon Mike Henry, says he is awaiting a comprehensive report from meetings being held among stakeholders to the US$65 million Palisadoes Shoreline Protection and Rehabilitation Programme, over recent days, following major hitches caused mainly by violent intimidation on the project site. Mr. Henry, who is on official business in Trinidad and Tobago, says he has been in touch with various stakeholders, but intends to fully address the issue after analysing the comprehensive report expected after the meetings are completed. Mr. Henry brought the security concerns of main contractor, China Harbour Engineering Company (CHEC), to the attention of the Police Commissioner. In response to the Opposition’s claim that the security issues were being used to mask other issues there, Mr. Henry said strong-arm tactics were long-established and integral features of the constituency. “Those who don’t know it and never expected such issues to arise on the mega project just don’t exist. Everybody knows how East Kingston politics operates and who have flexed the real muscles there, traditionally. So to deny the undeniable is pretty much futile, I believe,” the Minister said. He added that it was in the national interest for the project to be completed, without any repetition of the level of intimidation that has recently emerged, saying that was his goal in going forward. However, he said the sources of the problems need to be fully addressed, to minimise the likelihood of repetition. He also cited the need for the police report on the matter to be brought into the picture, especially since the Member of Parliament (MP) has dismissed all assertions of criminal involvement by political elements in the problems on the worksite. The minister said from the overall report that is expected, he intends to chart an amicable way forward. By Balford Henry, JIS Reporter & Editor Henry Awaits Report on Palisadoes Talks TransportSeptember 14, 2011 RelatedHenry Awaits Report on Palisadoes Talks Advertisementslast_img read more

Contract Signed for Cedar Grove High School in Gregory Park

first_imgRelatedContract Signed for Cedar Grove High School in Gregory Park Advertisements RelatedContract Signed for Cedar Grove High School in Gregory Park FacebookTwitterWhatsAppEmail The Ministry of Education has signed a $660 million contract with HDB Construction for the building of the Cedar Grove High School at Gregory Park, in Portmore, St. Catherine. The institution is the first to be built under the National Education Trust (NET) on behalf of the Ministry, and the Education System Transformation Programme (ESTP), and is a joint initiative involving the New Testament Church of God Jamaica/Cayman Islands, which has leased the land. Funding support is being provided by the Inter-American Development Bank (IDB). Speaking at the signing ceremony, held at the Ministry’s Heroes Circle headquarters in Kingston, on April 26, Acting Permanent Secretary, Grace McLean, pointed out that there is tremendous shortage of spaces at the secondary school level, numbering more than 100,000. “We are of the opinion that if we start with one, and move on to another, we will be able to fulfill that need. We are very happy that despite the shortages, we have been able to use creative strategies and systems to ensure that our children can continue to get their secondary level education until we can make the situation ideal for them,” she said. The Permanent Secretary lauded the initiative taken by the church to collaborate with the Ministry.  “What is most important on this project is to ensure that we complete it on time and within budget, and that our partners can be fully satisfied with this project,” she added. Member of Parliament for East Central St. Catherine, and State Minister for Foreign Affairs and Foreign Trade, Hon. Arnaldo Brown, welcomed the construction of the school, noting that Portmore has the distinction of having the highest concentration of educated persons in the island, particularly at the tertiary level. “Therefore, the addition of this school will continue that tradition.  We hope that we will attract the best and brightest minds and add value to them, so that they can contribute to the development of the country,” he said. Director of the ESTP, Jean Hastings, explained that the school was among those identified under the transformation programme to increase capacity at the secondary level. She noted that the programme is being carried out as a result of the recommendations of the Task Force Report on Education Reform of 2004. “About $5 billion was provided previously by the Government to commence the build-out of schools, at both the secondary and primary levels. Miss Hastings pointed out that St. Catherine is one of the areas where rapid growth is being seen, and where the demand for secondary spaces is very high. “So, this is a welcome start in improving the capacity of spaces at the secondary level, particularly for that parish,” she said. The school, which will be sited on the Gregory Park main road, next to the Cedar Grove community, will accommodate 1,200 students and 80 staff members, with 20 classrooms; 10 technical workshops; three science labs; two computer labs; administration, washroom and canteen facilities; library; book rental room; tuck shop; store rooms; kitchen; multi-purpose dining area; ancillary staff area; and ramp access for the disabled. Construction is to begin in another week and be completed within 18 months. RelatedContract Signed for Cedar Grove High School in Gregory Park Contract Signed for Cedar Grove High School in Gregory Park EducationApril 26, 2012 By Alphea Saunders, JIS Reporterlast_img read more