Board of Auditors submits 2021 Annual Public Report to H.S.H. the Sovereign Prince

S.A.S. le Prince Souverain et M. Christian Descheemaeker ©DR

On 16 March 2022, Mr Christian Descheemaeker, Chairman of the Board of Auditors, submitted to H.S.H. the Sovereign Prince its 2021 Annual Public Report. The report was approved by the Principality of Monaco’s Supreme Audit Institution on 6 December 2021.

In accordance with the Sovereign Ordinance dated 2 July 2008, the report details the activities of the Board during the preceding year. It is available on the Prince’s Government website.

In 2021, the Board of Auditors first audited the State’s accounts and financial management during the 2020 financial year, in accordance with the legislation that governs the Board’s activities. 2020 was a unique financial year in that it was characterised by the impact of the pandemic and the adoption of two amended Budget Acts.

The Board of Auditors also completed the following audits, which began in 2020 but were delayed by the health crisis and its impact on the Board’s work:

- the procedures for awarding and monitoring grants given by the Monegasque State (using the example of culture);

- the accounts and management of the Monaco Scientific Centre for the financial years from 2015 to 2019.

Finally, the Board of Auditors completed the audits scheduled for 2022:

- Housing Aids granted by the State to residents living within the Principality of Monaco;

- the Louis II Stadium;

- the Social Protection Unit;

- the Société d’Exploitation des Ports de Monaco (SEPM).

In 2021, relationships with foreign supreme audit institutions and multinational associations were naturally maintained, particularly with the European Organization of Supreme Audit Institutions (EUROSAI), which held its Congress on 14 April 2021, after the original event scheduled to be held in Prague in 2020 was postponed. The Board of Auditors was represented at this online event by Mr Christian Descheemaeker, who was then its Vice Chairman.