How rich it was, Mr Editor, that the most recent damning report of the Auditor-General should be released on the same day our Legislature reconvenes for another year. Poor pun, I know. A Throne Speech, you say?

For my money, and for your money, too, dear readers, the Governor should have read the Auditor-General’s report out loud to our legislators, all nicely assembled and attentive under the big tent eight days ago with their listening ears on.

You want reasons why? There are millions of them. Literally. I will give you some. The Legislature is to whom the Auditor-General is reporting by law because the Legislature is meant to act on what her office has to say. But all of us also need to know just what the Auditor-General has found and what her office has to say about the way in which we are governed and about the way in which our taxpayer dollars are managed.

In short: her report is an indictment of our present system of governance and its failures — another in a long line of reports from her office and, frankly, it is way past time something was done about it.

Some will satisfy themselves simply by blaming the former government, the Progressive Labour Party that is in Opposition now, and it is true that it should shoulder blame for what happened under its stewardship. But if you think that is the only problem, or even the problem, you are sadly mistaken, in my humble view. This has been developing for some time, dating back to the days of, you guessed it, the United Bermuda Party. I kid you not. Check out past reports if you think I’m wrong. It’s all there in black and white, and not just in the fine print, either.

The Legislature has also allowed this to go on for far too long. Government spending has largely gone on unchecked by a Legislature that has not been as vigilant and as robust as it should be in providing oversight on the executive (Cabinet) and the Civil Service.

Here’s some of that about which the Auditor-General complains and details in her most recent report:

• “High level of unsupported payments, as well as an override of controls at the highest level of management”

• “Annual”, “habitual overspending by government ministries” that has now become “ingrained behaviour”

• Capital projects where “controls are ignored or overridden with those responsible seemingly immune to the imposition of penalties and sanctions built into financial instructions”

• Contracts and purchases that lacked supporting documentation and that “failed to comply with the applicable purchasing and approval standards”

• “Policies, procedures and rules pertaining to capital expenditures are being violated to such an extent that it has now become the norm, for which there are no consequences”

And here’s the kicker:

• “Compliance with the required procedures for the procurement of goods and services reduces the risk of non-performance, fraud and misappropriation. Persons with signing authority should be held accountable for breaches of compliance of the relevant financial instructions and rules.”

We are talking millions and millions and millions of dollars here, people; hundreds of millions of our dollars. The report details where much of this has occurred, and sadly it is all too familiar.

So here’s the burning but outstanding question: what is actually being done about it?

There could be (should be?) police investigations and possible prosecutions. However, with the passage of time, this starts to look less and less likely. Bear in mind that this report dates back to the three financial years 2010, 2011 and 2012 — and that’s part of the problem: we need to get more current around here. Like today, please.

The Legislature has a key role to play. This is the body that is meant to bring about much-needed accountability through parliamentary oversight.

There’s the Bermuda Constitution Order 1968, yes, along with the 1969 Public Treasury (Administration and Payments) Act, which makes it clear, very clear that the Legislature is meant to exercise financial control and the Minister of Finance the management and supervision of government finances.

We’re all familiar with the refrain: Parliament is supreme. Time for our Legislature to step up and deliver, backbench MPs, the Government joined with Opposition. You have a common cause.

• That control is meant to be exercised primarily by the Public Accounts Committee; time to beef it up and include independent senators.

• Increase that control by forming three further parliamentary watchdog committees; along the lines that were recommended by the Sage Commission.

• Strengthen accountability by making the annual Budget debate a more meaningful exercise in parliamentary oversight; no more reading speeches, please.

Our government can and should lead the way on this. It can make this happen tomorrow, if not by motion then by their own behaviour. They can also keep their electoral promise to strengthen the office of the Auditor-General so that office can catch up and become current in its reviews and its reports.

All that is required is the political will to make it happen, which, sadly, appears to be lacking.

It is not just past spending we should be concerned about, but present spending as well. Once again, what is sauce for the goose is sauce for the gander, Mr Editor.

The Legislature should be all over the proposed new airport project — is that not a departure from financial instructions? — and tracking the America’s Cup as well. I mean, we all know about good intentions.

The road to you know where is paved with them; in this case, financial ruin.