Reporting Process

Reporting Process

The Principal Auditor has discretion as to the form and content of his annual report on the public accounts of Gibraltar, the accounts of the Gibraltar Savings Bank and the accounts of statutory corporations, authorities and agencies. However, he generally restricts himself to reporting matters that he considers significant and/or constitute an actual or potential loss of public resources, a lack of financial control, an impairment of accountability and a breach of, or non-compliance with, legislative or other regulatory requirements. He does not generally report errors or deficiencies that, in his opinion, have been, or are being, satisfactorily rectified, except where deficiencies have resulted in a loss to the public purse.

Audit views, advice, recommendations and other observations contained in the report on the public accounts are discussed with Controlling Officers and Receivers of Revenue of Government departments, the Director of the Gibraltar Savings Bank and the Chief Executives of statutory corporations, authorities and agencies who are requested to provide their views and comments. Where appropriate, responses from auditees are summarised for inclusion in the annual report.