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URCA’s Publication of Accounts Opposed

The publication of separate accounts and cost accounting information is being opposed by the Bahamas’ two leading communications providers who described the requirement as “disproportionate” and “not fit for purpose.”

In response to the Utilities Regulations and Competition Authority (URCA’s) public consultation document on proposals for publication of accounting separation and cost accounting information, both the Bahamas Telecommunications Corporation (BTC) and Cable Bahamas Limited (CBL) said that the publication of separated (regulatory) accounts was unlikely to achieve the main objectives indicated by URCA and therefore imposing the requirement was disproportionate. URCA said that imposing the accounting separation and cost accounting requirement would support retail price regulation where it is applied; overcome the information asymmetry between the regulator and regulated entities; guarantee audit independence and objectivity in the cost information provided to URCA.

Posted in Business

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