States accounting needs 'significant improvement'

The audit reviewed annual financial reports produced by the States of Jersey and 50 States established and States controlled entities

The States of Jersey and organisations set up and controlled by it must improve their annual reporting, an audit has found.

The second annual review on use of public funds found most organisations did not "meet best practice".

Comptroller and Auditor General Lynn Pamment said "significant improvements are needed".

The audit found the overall content of 73% of annual reports was poor or very poor.

The report considered the annual reports produced by the States of Jersey and 50 States established and States controlled entities.

'Best practice'

Deputy Susie Pinel, the Minister for Treasury and Resources, said: "I acknowledge that there is still more to do."

The first report was published in August 2020 and the latest edition found there was an overall improvement from the previous year.

Only 15% of States established and States controlled entities produced a single annual report comprising an identifiable performance report, accountability report and financial statements.

Ms Pamment said: "Annual reports are a fundamental part of ensuring the accountability of entities.

"Few States established or States controlled entities have made significant progress in improving their annual reports for 2020 and significant improvements are needed for most entities to meet best practice."

Areas that needed improving included setting out objectives, analysing risks and summarising performance, among others.

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