Controversy in the Cayman Islands, and how the situation there reflects on Anguilla. The Cayman Islands' Auditor General, Dan Duguay, has been complaining. The Auditor General is what we call in
If you go to the Cayman Islands Government’s website, you will find that they publish the Auditor General’s reports. The Audit Reports for the years 1995 to 2002 are available in full, and for free, on the government website. Additionally, most of his Special Reports are published and available for anyone to download on the government website. The website lists those Special Reports that are not available to the public, so you know exactly what is missing.
The controversy arises from the very latest Special Report by Dan Duguay, published in July 2008. He calls it, “The State of Financial Accountability Reporting”. In it, he is very critical of the delays in accounting by government departments. The last Audit Report he has been able to lay before the Assembly has been for the year 2002.
By contrast, I am reliably informed that the last available Audit Report for
Dan Duguay describes the situation in Cayman Islands as a threat to the very foundation of good governance in the
It would seem that as of April 2008 there was at least C$1.5 billion of operating expenditure that should have been accounted for that has not yet been reported to the Cayman Islands Legislative Assembly. And, the Cayman dollar is worth more than the US dollar.
On Wednesday 6 August, the Cay Compass News Online published an editorial on the situation. They point out that this lack of reporting is a very bad way to do business. Any legitimate company practises proper accounting through audits to know what’s due, what is owed, and to ensure that money is not being misappropriated. They make the point that, obviously, we should expect nothing less from our government. It would seem that the
On the same day, the Governor, Stuart Jack, had his say. He declared that the time for excuses is over. He announced that the audited financial statements are important for the accountability of government and hence for good governance.
Now, the Public Accounts Committee of the
Compare this situation to the one we have in
I am advised that you have to go to the Ministry of Finance and apply to get a copy of the Chief Auditor’s Reports to find out anything about the