Auditor General Report On Consolidated Fund

November 13, 2015

The Auditor General has released reports on the Government’s Consolidated Fund for the years ended March 31, 2010, 2011 and 2012, saying the key issue “relates to serious deficiencies in internal control over the management of various capital development projects.”

The statement said, “Auditor General, Heather Jacobs Matthews, today released a Report on the accounts of the Government of Bermuda. This report documents the results of audits of the Consolidated Fund for the years ended March 31, 2010, 2011 and 2012.

“This marks the fifth consecutive year that the financial statements of the Government of Bermuda received a qualified auditor’s opinion.

“The key issue relates to serious deficiencies in internal control over the management of various capital development projects. In her audit opinion, she explains that these deficiencies led her to question the appropriateness of certain transactions and the underlying value of assets.

“The Auditor General also cites the continued failure to provide summary financial statements which disclose the full nature and extent of the overall financial affairs and resources of the Government of Bermuda, the increased net debt and incidences of non-compliance with Financial Instructions.

“Ongoing concerns include inappropriate procedures and inadequate accounting for transactions, millions paid without signed contracts or agreements, significant contracts not tendered, inadequate procedures over bank reconciliations, millions paid for professional services without prior approval and IT deficiencies.

“The report also noted issues surrounding the financial reporting process which still requires numerous adjustments to be made before audited financial statements can be issued. For further information, please refer to the full report which is available at”

The 300 plus page report follows below [PDF here]:

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Comments (43)

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  1. Family Man says:

    Now there’s a record to be proud of – NOT. Five years in a row. Their ethical issues are exceeded only by their incompetence.

  2. Smiths says:

    dang – maybe we should ask for the Minister of Finances salary back for those years ending 2010, 2011, 2012 because it seems they sure screwed up and let a lot of things slide under their tenure.
    Maybe THAT minister should have to answer for those issues.

  3. jt says:

    How can no one be fired or prosecuted for this?

  4. Kangoocar says:

    Well well well???? Can all the plp sheeple read what the Auditor General Heather Jacob Mathews has stated, as MANY times as it takes, for you to all FINALLY realize what was going on under YOUR plp!!!! Those years were the start of all the suffering in BDA, and you sheeple had and still have your heads buried in the sand because you simply do not want to come to terms with the fact, that you ALL were taken for a ride by your plp!!!! The only ones that did not seem to suffer at that time was the plp members themselves??? They went along and continued to build BIG houses on their Minister salaries and you all would not face that fact??? Those that can’t come to terms with what was blatantly being done in front of them, deserve all the financial pain they are now feeling!!!! I will once again state, I never refer to the plp as incompetent when it comes to THIS matter, they new exactly what they were doing at the time mentioned by The auditor general!!!!
    I NOW want to know when will those responsible for this fiscal mess be held accountable??? It was OUR money and we need it NOW!!!
    If the OBA do not grow a pair and get to the bottom of this, it will be at their peril!!!!!

    • Kangoocar says:

      Should have asked, were are all the plp sheeple on this thread?? They seem to be amongst the missing??? Tree frogs and crickets from that camp???

    • mixitup says:

      I say if there is wrong doings prosecute them!! And why not go further, check the books from the 70′s 80′s 90′s cause they are surely some Big houses up Trimingham hill and Fairylands!

      • jt says:

        I agree. Investigate every qualified audit and prosecute wherever possible.

  5. Common Sense says:

    The PLP did get fired! They have not been prosecuted as their sins were only immoral but not illegal, because of outdated laws.

  6. Family Man says:

    And we haven’t even got a handle on the missing $18m from the Corp of Hamilton.

  7. backakillme says:

    Come on Bunion juice , give us some history .

  8. Terry says:

    Follow the money.

  9. backakillme says:

    Don’t you worry mate it has been followed .

  10. Widget says:

    Betty, hello Betty!!!!! I’m waiting to read your opinion on this one since you have one on everything else!!!!!!

    Funny I don’t read the usual BS contributors one this one. Shocking

  11. Mucho Gusto says:

    The problem is proving what everyone knows. So many are frightened to talk, or have left the island when their permits were not renewed.

  12. 4 votes ! says:

    Scary thought is that only 4 votes kept them from being reelected !

  13. ( Just a thought ) says:

    OBA now that you have the report are you going to do anything about it ? Or is it going to be business as is for you politicians , protecting thoes responsible for millions and millions of dollars gone missing . I want to see people in court and in prison . Grow a pair and get on with it !!!!

    • Balanced Facts says:

      Please try and understand how the system work. The DPP has SOLE power to bring prosecutions under the Constitution NOT a political party or a Government. Now, it is a fair question to ask with all this evidence why the Police and DPP are not doing anything! FCO comment???

      • clearasmud says:

        How the system actually works is that if the Auditor finds evidence of wrong doing she is required to refer it to the police!

  14. Tired of it all says:

    Where are the comments from:

    Onion juice
    Chris Famous
    And the rest of the apologists?

    Let me guess the so called “global recession” made the PLP play loose and fast with our monies? Now I hope you’re beginning to see why we are in the financial mess that we are in. Nah, probably not. Blame someone else is the PLP’s MO. OBA, you better hold someone accountable for this nonsense.

    • Tolerate says:

      lol, can’t be sending out mixed messages, so they will need some time to confer.
      The spin will be dizzying.

      • Coffee says:

        Are you people even serious ? This report is like every other report submitted by Civil Servants ! The Finance Minister has no faith in them . So why should anybody from the PLP give this report credibility ?

        Please don’t take my word for it , refere to Bob Richards January 2013 statement of fact !

        • Zevon says:

          Aren’t you PLP supposed to be “concerned” about everything? What happened? Not concerned all of a sudden?

        • Ed Case says:

          Done worry coffe, I’d never ever take your word for anything.

        • Cup Of Tea Anyone? says:

          and here, ladies and gentlemen, we have a perfect example of a Pee eL Pee, koolaide drinking sheeple, running scared!



        • hmmm says:

          So Coffee, as a fully involved member of the PLP, are you saying that Government Workers are not up to the job !!!!!

  15. navin johnson says:

    Shocking that a PLP spokesperson does not come out and say “We are deeply concerned” “We are gravely concerned” and their other useless sayings…during those years rating agencies downgraded Bermuda debt due to these deficiencies costing Bermuda more millions in additional interest expense…The fault should be jointly shared by the PLP and the hundreds of useless civil servants who were responsible for not controlling reporting policy…..The PLP the gift that keeps on taking from Bermuda for generations…useless collection of unqualified misfits….

  16. Zen says:

    The truth is many made profit off of their PERMISSIVENESS Both political parties and various businesses ergo the reason nobody will ever be brought forward it is now dirt under the carpet and that’s real talk.

  17. If the D. P. P has this report from the Auditor General and have been investigating where the money has gone and who is responsible . Than they should start getting off there over paid butts and start prosecuting . There are a lot of impatient people tired of excuses . Let’s have some results A.S.A.P. !!!!!!

    • Tolerate says:

      Start with where the extra $20 million for the Port Royal face-lift went and work your way back.
      If anything that should shut-up a few loud mouths for a while.

  18. clearasmud says:

    Clearly the person responsible for this debacle would be the former Minister of Finance. She alone is responsible for the state of our financial affairs. She stated repeatedly after previous qualified Audits that she was putting in place new procedures to address short comings with the system and here we are once again with a qualified audit. If they were not already gone I would have called for the termination of both the former Finance Minister and the former accountant General.

    • Concerned says:

      Ms Cox also said ‘she couldn’t say no’ – hmmm now we know

  19. Keepin' it Real!...4Real! says:

    Now may be a good time for the OBAers to open their arms to welcome the newly awaken the uninformed and mislead…don’t scold them or agitate. PEACE a wat mi seek deh!

    • Kangoocar says:

      @keepin, of course they are welcome, that has always been one of the major differences between the plp and the OBA, the OBA welcome and govern for all, the plp only welcome one segment???

  20. bermy Bud says:

    I guess thats why they didnt like her! She did “do diligence” for this country the and they tried to stop her! Much respect Mrs. Matthews! Keep doing your job!

  21. hotcrossbuns says:

    $20 million plus in questionable or undocumented expenses related to BDOT under the PLP and they are complaining about the BTA? That’s the pot calling the kettle black. BTW, I just read, BTA got a unqualified audit…not a penny is missing or unaccounted for in 2014.