Board of Auditors submits 2016 Annual Public Report to H.S.H. the Sovereign Prince

Photo caption: H.S.H. Prince Albert II and Mr Jean-Pierre Gastinel, Chairman of the Board of Auditors – © Gaetan Luci / Prince’s Palace

On 19 May 2017, the Chairman of the Board of Auditors submitted to H.S.H. the Sovereign Prince the 2016 Annual Public Report, approved by the Principality’s supreme public auditing institution on 3 April 2017.

In accordance with the Sovereign Ordinance dated 2 July 2008, the report details the activities of the Board during the preceding year (Chapter I). It also analyses the reports presented during the year.

For the most part, the Board focused on auditing the accounts and financial and budgetary management of the State. In this respect, having completed its audit of State management and accounts more quickly for the 2015 fiscal year, the Board presented its report for 2014 and 2015, which is summarised in chapters II and III.

During the year, the Board of Auditors also continued with the audits of two public institutions: the Nouveau Musée National de Monaco and the Monaco Scientific Centre.

In addition, the Board reviewed the Commune’s accounts. The relevant report will be noted in next year’s public report.

The Board also continues its review of social welfare, which was analysed by an expert in 2016. The results of this review will be used in subsequent reports on the State, the Commune and the Social Protection Unit.

Finally, the Board conducted two series of investigations at the request of the Prince’s Government. The first of these concerned the operation of governance at embassies, and the second the proportion of the State budget allocated to the civil service pension scheme. On this issue, the Board produced recommendations which will eventually result in a better balancing of the system.

In terms of the Board’s organisation, one new member was appointed: Mr Paul Hernu was called on to replace Mr Jean-Louis Beaud de Brive, who resigned. This appointment was enacted by Sovereign Ordinance No. 6.219, dated 23 December 2016.