Who audits the OAG?

The OAG is audited annually by an independent audit firm. At present the OAG's auditors are HLB Berman Fisher. The Public Accounts Committee is responsible for the appointment of the OAG's auditors under section 69 of the Public Management and Finance Act section 69.

Who is responsible for the preparation of financial statements for government and public sector entities?

Each individual ministry, portfolio, statutory authority and government company is responsible for the preparation of their financial statements. They are required to present financial statements that present fairly the operations and activities of their entities for audit. It is not the responsibility of the OAG to prepare the financial statements of any government or public entity, other than it's own.

Under what legislation does the OAG carry out its work?

The work of the OAG is undertaken under the powers vested in the Auditor General under the Cayman Islands Constitution and the Public Management and Finance Act.

What is the role of Auditor General and the OAG?

The Auditor General is independent of the executive branch of government. Our role is to assist Parliament to strengthen the efficiency, effectiveness, and accountability of government. This is achieved by providing independent information, advice and assurance on whether Government’s activities have been carried out and accounted for in accordance with the Parliament's intention and with due regard to securing value for money and the avoidance of waste.

How is the independence of the Auditor General preserved?

The Auditor General is constitutionally independent of Government and this independence is further enshrined in the Public Management and Finance Act. In the exercise of his powers he cannot be subject to direction or control by any person. In the determination of the matters that will be subject to audit the Auditor General and OAG continue to exercise complete discretion, and carry out audit work that is risk based and in the public interest. The Auditor General and the OAG are physically separate from Government and exercise independence of mind in respect to their audit work. However, under the Public Management and Finance Act the OAG is technically an office of the Government, and this along with other legislative provisions compromise the financial and operational independence of the OAG, which are important conditions in ensuring the independence of a public audit office.

Is OAG part of the Government?

The Auditor General is constitutionally independent of Government and this independence is further enshrined in the Public Management and Finance Act. In the exercise of his powers he cannot be subject to direction or control by any person. However, under the Public Management and Finance Act the OAG is technically an office of the Government, and this along with other legislative provisions compromise the financial and operational independence of the OAG.

FAQs