THE Auditor General's report on the Bermuda Housing Corporation's 2002 financial records is now complete ? two years overdue.

Minister of Works & Engineering Ashfield DeVent said he "regretted the audit was late" but that it was "as a result of ongoing police investigations" into allegations of mismanagement and improper dealings at the BHC that year.

He added that the 2003 audit was also delayed as a result of the investigations but that it, along with the BHC's financial statements for 2004, were "expected to be tabled by the end of the year".

Shadow Housing Minister at the time the scandal broke, MP Michael Dunkley said he welcomed news that the audits were complete. But he added that if police investigations had caused the delay, he hoped the Minister was now ready to inform the public as to their findings.

"Until they're tabled in the House of Assembly there's really no comment to make. But it's welcome news that they're coming all at one time. I would hope that this signifies a trend that will continue, that they'll be tabled in the appropriate time so that we can review them and make sure that any time budget appropriations come forward, or we discuss the situation, we've got the latest information."

In March of 2002, Mr. Dunkley called for a full-scale investigation into the BHC as allegations were made that staff were double-billing and taking bribes and kickbacks.

Last month, Acting Director of Public Prosecutions Kulandra Ratneser said that only one man would be called before the courts, possibly to face multiple fraud charges arising from the scandal.

Yesterday, Mr. DeVent said the audit had been slowed as officers worked towards that point.

"I can appreciate that might be the case," said Mr. Dunkley, now Shadow Health Minister. "In the beginning, when we blew the top off the way the Housing Corporation was being run, the police were heavily involved.

"But if the Minister to this day, in July of 2004, is still using the excuse that they're late because of ongoing police investigations, then I would ask the Minister what the results of those investigations are. What's to take place?

"Because if nothing's come up, if there's nothing concrete that the public can be made aware of, then I contend that we wasted thousands of police man hours and thousands of taxpayer dollars investigating nothing ? and I say that in all sincerity.

"I know that there were serious problems with the Housing Corporation because I was the Shadow Minister of Housing at that time and I want to see the results."