b'A N N U A L R E P O R T 2 0 1 7 - 2 0 1 8STATEMENT OF MANAGEMENTS RESPONSIBILITIESManagement is responsible for the following:Preparing and fairly presenting the accompanying special purpose financial statements of the National Insurance Board of Trinidad and Tobago (the Board or NIBTT) which comprise the statement of financial position as at 30 June 2018 and the statements of comprehensive income, cash flows and changes in funds for the year then ended, and a summary of significant accounting policies and other explanatory information;Ensuring that the Board 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 Boardsassets, detection/prevention of fraud, and the achievement of entitys operational efficiencies;Ensuring that the system of internal control operated effectively during the reporting period;Producing reliable financial reporting that comply with laws and regulations, including the National InsuranceAct 35 of 1971; andUsing reasonable and prudent judgment in the determination of estimates.In preparing these audited special purpose financial statements, management utilised the financial reporting provisions of the National Insurance Act. Where the financial reporting provisions of the National Insurance Act is not clear reference is made to International Financial Reporting Standards, as issued by the International Accounting Standards Board and adopted by the Institute of Chartered Accountants of Trinidad and Tobago to determine the Boards alternative accounting treatments. Where International Financial Reporting Standards 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 Board will not remain a going concern up to the date the accompanying special purpose financial statements have been authorised for issue.Management affirms that it has carried out its responsibilities as outlined above. Niala Persad-PoliahBrendon NelsonExecutive DirectorExecutive Manager, Finance and Accounting27 September 201827 September 201832'