Topic: audit
AI squeeze impacts audit firms
Traditional models for large audit consultancies in Cayman are coming under pressure as AI reduces the fees clients are willing to spend.
New HSA board named as government tightens oversight
After weeks of public concern over governance at the HSA, government has appointed a new board and ordered an independent governance review.
Slow payments marred government’s COVID-relief effort
A patchwork of hastily assembled COVID-relief programmes were inconsistently managed and payments to those in need were often late, according to an internal government report.
Police probe allegations of misappropriated funds at UCCI
The police financial crimes unit is investigating reports that a senior employee of the University College of the Cayman Islands misappropriated funds from the higher education facility.
PAC commends government entities’ account keeping
The Public Accounts Committee has lauded the 39 out of 41 government entities that received unqualified audit opinions.
Procurement office addressing audit recommendations
Despite a report from the Office of the Auditor General finding significant shortcomings in the way the government oversees outside contracts, the Central Procurement Office said it has already been making progress on many of the recommendations in the report.
Government failing to track outside spending
Perhaps the most striking sentence in the newly released auditor general’s report, ‘Government’s Use of Outsourced Services,’ is the one that starts the Key Messages section: “The government does not routinely monitor and report how much it spends on outsourced services.”
Winspear gives ‘clean’ audits to 35 agencies
Emphasising the continuing improvement in the Cayman Islands government’s financial reporting, the Office of the Auditor General has given the highest possible rating to 35 of 44 public sector entities when auditing their financial statements for the 2016-2017 budget period.
Customs and Border Control outlines plan to address audit
Customs and Border Control expressed “unequivocal commitment to implement the recommendations” made by an auditor general report released Thursday that outlined extensive deficiencies in the agency.
EDITORIAL – Auditors unearth $2 million of problems at DEH
The recently released auditors’ report confirms three sources of stench within the Department of Environmental Health: the garbage accumulating on curbsides and in dumpsters; the department’s $2 million in overspending on overtime pay in the 2016/17 budget; and the public statements at the ministerial level that consistently downplayed departmental problems, even while internal auditors were discovering and reporting them.
Department of Environmental Health audit: Report highlights overtime abuse
Substantial mismanagement and widespread abuse of the system are blamed for an 800 percent overspend on overtime at the Department of Environmental Health in an internal government audit.
Cayman Turtle Centre worker suspended in corruption probe
A Cayman Turtle Centre worker has been suspended and reported to the Anti-Corruption Commission after "purchasing irregularities" were discovered during an audit.
Audit flags ‘irregularities’ in port finances, human resources
Financial, human resources and other administrative “irregularities” have been identified at the Cayman Islands Port Authority in a special audit completed earlier this year, the Cayman Compass has learned.
Education ministry audits lag four years behind
Audited financial statements for the Cayman Islands Ministry of Education have not been completed for public review since the government’s 2012/13 budget year, more than four years ago, according to Auditor General Sue Winspear and Financial Secretary Ken Jefferson.
Auditors: Government personnel costs ‘understated’ by millions
The Cayman Islands government spends about 68 percent of its annual budget on employee payroll, according to estimates compiled this week by the auditor general’s office.
Cayman Airways ‘susceptible to losses’ on credit transactions
Incomplete documentation for certain customer accounts and a lack of demand letters sent to credit customers that did not repay Cayman Airways for services has left the national airline open for financial losses, a government report has noted.
Water Authority lab passes external audit
The Water Authority recently passed an audit by the American Association for Laboratory Accreditation and had its ISO/IEC 17025 Accreditation renewed for another two years.
2 years later, no development plan
Senior Cayman Islands government managers ignored or actively opposed the majority of the recommendations made in a controversial 2015 audit that revealed opaqueness, “unlawful” acts and allegations of corruption in the management of public properties.
HSA promises ‘clean accounts’ by 2018
The Cayman Islands Health Services Authority has pledged to report “clean” financial statements by 2018, after receiving a tongue-lashing from Public Accounts Committee Chairman Ezzard Miller this week.
Public Accounts Committee: Needs Assessment Unit requires ‘major overhaul’
The Needs Assessment Unit, tasked with managing a number of social assistance programs, needs a “major overhaul,” according to the legislature’s Public Accounts Committee.
Gov’t cash audits cite theft risks
Broken locks on cash tills, ready access to where “liquid assets” are stored and a lack of CCTV monitoring in sensitive areas have been flagged in several government agencies that were subject to cash audits in the past year, according to records obtained by the Cayman Compass.
Government acts on 22 percent of audit recommendations
The Cayman Islands government has implemented just 22 percent of the recommendations made by its auditors for improving financial reporting and management processes in various public sector entities over the past five years.
Review of CarePay debacle complete
The internal review of the Cayman Islands government’s catastrophic five-year, US$13 million dollar contract for hospital patient insurance adjudication services has been completed, Deputy Governor Franz Manderson said Friday.
Report: Confusion over government travel policy
The Cayman Islands government has significantly reduced the amount of mismanaged expenditures incurred during official travel since 2012, an internal audit has revealed.
