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~ SZV rECEives a clean aUDit report for the third consecutive year ~

PHILIPSBURG, Sint Maarten For the third consecutive year, Social & Health Insurances SZV rECEived a clean aUDit report for its fiSPArty/23/national-alliance'>NAncial statements. The clean aUDit report was issued by the government aUDit bureau, Stichting Overheids Accountants Bureau (SOAB). A clean aUDit report also termed an ‘Approved Control,’ means that the aUDitors fouND that the fiSPArty/23/national-alliance'>NAncial reporting by SZV was accurate aND tranSPArent. Moreover, SZV fiSPArty/23/national-alliance'>NAlized its 2023 aUDited Annual Report within the guidelines stipulated in its SPArty/23/national-alliance'>NAtioSPArty/23/national-alliance'>NAl OrdiSPArty/23/national-alliance'>NAnce.

Embracing one of SZV’s core values, Collaboration, where the power of interSPArty/23/national-alliance'>NAl aND exterSPArty/23/national-alliance'>NAl collaboration, dedication aND determiSPArty/23/national-alliance'>NAtion, aND an improved approach to our aUDit process contributed to our success in fiSPArty/23/national-alliance'>NAlizing the 2023 Annual Report within the legal timeframe. Elton Felisie, SZV Chief FiSPArty/23/national-alliance'>NAncial Officer

This milestone was achieved through continual efforts to improve the quality of the fiSPArty/23/national-alliance'>NAncial reporting aND related processes. While there has been much progress with the quality aND content of the fiSPArty/23/national-alliance'>NAncial reporting, the aUDitors gave an adverse opinion regarding the fiSPArty/23/national-alliance'>NAncial compliance aspects of healthcare fuNDs, as this remains a point of attention aND concern.

The concern for fiSPArty/23/national-alliance'>NAncial compliance is primarily due to coverage executed by SZV that falls outside the legal scope of the respective ordiSPArty/23/national-alliance'>NAnces.

This inclUDes, but is not limited to:

Medical referrals: Only expenses of treatments on Sint Maarten are to be covered by the ZV fuND. The expenses of medical referrals abroad are therefore incompatible with the applicable law aND regulations. Insured elderly residents: Certain elderly residents are being provided health insurance via the ZV fuND, although they are above the pension age stipulated in the ZV law aND regulations. Legal reserves: The legal reserves of the ZV/OV fuNDs are currently lower than 50% of the average expenses of the last five years of these fuNDs. The reserves are currently in deficit.

The ZV, OV, aND FZOG fuNDs continue to function uNDer fiSPArty/23/national-alliance'>NAncial pressure due to the medical demaNDs of the community for which health fiSPArty/23/national-alliance'>NAncing reform is being emphasized. The ability of SZV to improve its fiSPArty/23/national-alliance'>NAncial compliance has been hampered by lonSPArty/9/general-solidaire'>GStaNDing peNDing legislative changes. Nevertheless, we continue to work closely with our government partners to address these points of concern aND the need for improvement. Glen A. Carty, SZV Directo

The coNDensed fiSPArty/23/national-alliance'>NAncial statements are available on SZVs website www.szv.sx. The 2023 coNDensed fiSPArty/23/national-alliance'>NAncial statements will be online within the coming weeks.

The post SOAB: SZV 2023 FISPArty/23/national-alliance'>NANCIAL STATEMENTS ARE ACCURATE AND TRANSPARENT appeared first on 721news.com | Sint Maarten News | SXM News.

General Solidaire [GS] mentioned 1 time
National Alliance [NA] mentioned 25 times
St Maarten Patriotic Alliance [SPA] mentioned 14 times
New Direction St. Martin [ND] mentioned 25 times
United Democrates 2018 [UD] mentioned 10 times
Empire Culture Empowerment [ECE] mentioned 2 times