Auditor-General evaluates management of public assets
Recommendations made by the Auditor-General to “selected government-related entities” have been followed up and reported to legislators.
The report by Heather Thomas, the Auditor-General, was tabled on Friday in the House of Assembly.
The compilation of questionnaires followed up on the status of 46 recommendations as of September this year.
Recommendations were made to the Bermuda Casino Gaming Commission, the Board of Trustees of the Golf Courses, the Confiscated Assets Fund, the Contributory Pension Fund and the Fintech Development Fund.
It also covered the FutureCare Fund, the Health Insurance Fund, the Mutual Reinsurance Fund and the Government Employees Health Insurance Fund.
Other organisations included the Pension Commission, the Public Service Superannuation Fund, the Regulatory Authority and the Sandys Secondary Middle School Capitation Grant Account.
The entities cited cover $2.2 billion in assets, in cash, property, equipment, the right to collect cash, or the rights to receive benefits or services.
Ms Thomas wrote: “The follow-up process is not merely an administrative requirement, but a cornerstone of effective governance.
“It is a tool that enables our audits to lead to tangible improvements and uphold the public trust in the government financial management of the assets entrusted to them.”
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