No money is missing but the Auditor General will investigate the management of the Government training body Investors in People (IIP), it was revealed last night.

The news comes after allegations that IIP funds and important financial documents went missing from the organisation.

Former boss Terry Bond returned to the Island late last month and answered questions about missing documents said Home Affairs Permanent Secretary Robert Horton.

Mr. Bond left when his contract finished last summer and had never been in touch according to Mr. Horton.

Since then the new board has been looking for records, files, books, accounts, cash, cheque books, bank account numbers, bank statements, an up-to-date minute book, $25,000 of IIP materials, Mr. Bond's employment contract, details of his pay, pension and health benefits and his termination letter.

Mr. Horton said Mr. Bond, a Briton who now lives in the States with his American wife, reappeared on Thursday January 22 to visit the US Consul General, saw news of the controversy reported in The Royal Gazette and got in touch.

Mr. Horton said he had fruitful discussions with Mr. Bond but refused to divulge which documents were still missing. The pair met Auditor General Larry Dennis the next day. Mr. Horton said: "The Auditor General is satisfied there was no need for a Police inquiry or any such thing in respect to missing money but the Auditor General is conducting an inquiry into the management of the IIP programme.

"He doesn't believe there has been any financial impropriety but he is of the view it might have been managed more satisfactorily."

Mr. Horton refused to say which aspects would be looked at. He said the documents went missing when Mr. Bond vacated the James Building in Court Street after it was deemed derelict in April.

"Some documents were left with the National Training Board and some with the IIP board itself," he said. "As far as financial documents are concerned they will be available from the banks."

Last month National Training Board (NTB) boss Michael Stowe said the NTB gave $75,000 a year to the organisation but around $50,000 was missing from the 2003/04 budget and another $25,000 had been withheld because performance documents were never given to the NTB.

The IIP programme is reported to have a budget of around $200,000 a year.

But last night Mr. Horton said: "There is no money missing."

The NTB and IIP had been set up under the Labour, Home Affairs and Public Safety Ministry. Former Labour Minister Terry Lister said when he left the Ministry last July everything was fine.

The NTB has now been moved back to the Education Ministry after Mr. Lister was moved there in the recent Cabinet reshuffle.

Mr. Bond left when his contract ended. Mr. Horton said he had left contact details and he could not explain how Government's efforts to reach Mr. Bond had failed while journalists had been able to get through.