Office of the Comptroller and Auditor General Annual Report and Accounts 2024

R.73/2025

2024 Key Highlights

8 Reports

1 Good Practice Guide and

1 Self-Assessment Tool issued

16 Public Accounts Committee Meetings supported 11 Ministerial Briefings presented

2 Good Practice Sharing events delivered with positive feedback from attendees

Direction of travel

Key Performance Indicators

High performing audit  organisation  

 Supporting effective

scrutiny and accountability

Making a difference

Building a better organisation

4  1  - 2  1  - 3  1  -

Contents

Introductory Statement  4 Performance Report  5

Vision, Purpose and Values  6

Operations   7

Strategy and Performance  9

Risks   14

Financial Performance 18 Accountability Report  20

Corporate Governance Report 21

Remuneration and Staff Report 27

Report of the Board of Governance of the Office of the Comptroller and

Auditor General to the States Assembly on the expenses of the

Comptroller and Auditor General 28

Independent Auditors Report to the Comptroller and Auditor General 29 Annual Accounts  34

The 2024 Annual Report and Accounts tells the story of the Office of the Comptroller and Auditor General (also known as the Jersey Audit Office, or JAO for short). It sets out the JAO's performance, governance arrangements and finances for the year and is designed to enable stakeholders to hold us to account.

It sits alongside the Comptroller and Auditor General's Annual Report of Findings published in March 2025 which summarises findings and recommendations made by the Comptroller and Auditor General (C&AG) during 2024. It also sits alongside the Jersey Audit Office Audit Quality Transparency Report 2024 published in May 2025. All reports are available on the Jersey Audit Office website www.jerseyauditoffice.je

If you need a version of this report in an alternative format for accessibility reasons, or any of the exhibits in a different format, please contact enquiries@jerseyauditoffice.je with details of your request.

3 | Annual Report and Accounts 2024

Introductory Statement

The Jersey Audit Office (JAO) continued to make progress during 2024 across the ambitions set out in the JAO Strategy for 2024-27 – to be a high-performing audit organisation, support effective scrutiny and accountability, make a difference and build a better organisation.

At the beginning of 2024 the JAO introduced an enhanced performance audit methodology that is fully compliant with the standards and principles set out by the International Organization for Supreme Audit Institutions (INTOSAI). Our new methodology provides even greater clarity as to the criteria used to audit the performance of the States of Jersey.

Following the publication of the C&AG's Mid-Term Reflections in June 2023 we have continued to engage with Ministers on proposed updates to the C&AG (Jersey) Law 2014. We will continue our engagement with stakeholders on the proposed updates during 2025.

The JAO continued to perform strongly in 2024. We met 13 of our 16 Key Performance Indicators (KPIs) in full with three partially met. Benchmarking with other audit offices shows that we publish a high volume of reports at relatively low cost. Following the change of Government after the Vote of No Confidence in January 2024, we prepared briefings for all Ministers and Scrutiny Panels on C&AG recommendations. The JAO continues to receive very positive feedback from officers and other stakeholders.

The Board of Governance has operated effectively throughout 2024 and welcomed the addition of Peter Pichler to the Board on 16 April 2024. Peter is our first on Island' Board of Governance member. On 12 December 2024, the States Assembly approved the appointments of Michael Whitehouse OBE as Chair and Cosette Reczek as an Independent Member of the Board of Governance, both for five-year terms. They took up their respective roles on 14 March 2025, joining existing Board members Robert Tinlin MBE and Peter Pichler.

We would like to take this opportunity to thank Grace Nesbitt OBE (Board Chair) and Russel Griggs OBE (Senior Independent Member) for their invaluable contributions as Board members for many years.

Lynn Pamment CBE   Michael Whitehouse OBE C&AG   Board Chair

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The Office of C&AG was established in 2005 and operates under the Comptroller and Auditor General (Jersey) Law 2014. The C&AG has chosen to discharge her responsibilities through the Jersey Audit Office (JAO).

The Performance Report provides an overview of the work of the C&AG and the JAO in 2024. It considers

• Vision, Purpose and Values

• Operations

• Strategy and Performance

• Risks

• Financial Performance

Vision, Purpose and Values

Our  To be a trusted and innovative audit organisation that champions good Vision  governance and the wise use of public money in Jersey.

Our  To provide independent assurance to the people of Jersey that public money is Purpose  spent economically, efficiently and effectively and that the controls and

governance arrangements in place within public bodies demonstrate value for money.

Our  Independence and objectivity

Values

We appoint auditors, determine our work plan, carry out our work and report our findings impartially. We are accessible, transparent and responsive. We drive constructive and positive change through our recommendations and follow up. We respond with agility to the ever-changing environment in which we operate.

Fairness and justice

We are open and honest in the way we undertake our work, how we communicate with all stakeholders and how we treat people. We report our evidence-based findings in public, without fear or favour. We undertake audit work as economically, efficiently and effectively as possible.

Integrity

We speak up for what is right. We strive for and deliver high quality outcomes. We are truthful in making decisions and in responding to challenge. We meet our responsibilities in an ethical and fair way.

Credibility

We provide insight and promote best practice. We engage proactively with our stakeholders, with whom we work hard to build and maintain trust. Our work follows best practice and is undertaken by a team of reliable and dedicated professionals in accordance with recognised international standards.

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About the C&AG and the JAO

The role of the C&AG

The C&AG is appointed by the States Assembly and is independent of Government. Her responsibilities are to:

• report to the States Assembly on the effectiveness of internal control, general corporate governance arrangements and economy, efficiency and effectiveness (value for money'); and

• appoint auditors of the accounts of the States (including the Social Security Fund, the Social Security (Reserve) Fund, the Health Insurance Fund and the Long-Term Care Fund) and certain other specified entities.

Assurance about the stewardship of public funds

Appointing RepStates Aortinsgs emblyto the  auditors of

accounts

Corporate  Other specified Internal control governance Value for money The States entities

The Code of Audit Practice and the statutory framework

Statute requires that the C&AG publishes a Code of Audit Practice, setting out how she discharges her functions. In December 2023, following a public consultation, the C&AG published an updated Code of Audit Practice. The update reflected changes to ensure compliance with the latest relevant ethical standards and to ensure compliance with INTOSAI Principles and Standards.

Operating Model

The JAO comprises the C&AG, her Deputy , a communications and administration function, a finance and governance function and affiliates. Affiliates were engaged following a competitive recruitment process and provide specialist knowledge and experience where required. The JAO has no employees.

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Environmental impact

The major environmental impact of the JAO is the use of air travel to and from Jersey. We have sought to ensure that travel to the Island is purposeful so that the impact on the environment is minimised.

Corporate Social Responsibility

The JAO made progress in implementing its Corporate Social Responsibility Strategy during 2024, but we recognise that there is still more to do.

Island  Planned activities 2024-27  Progress during 2024 Outcome

Perceptions of  The JAO will participate in work  We have not undertaken work with the Youth Government  with the Jersey Youth Parliament  Parliament during 2024. The States are making

alongside the Public Accounts  changes to bring together elements of both Committee to raise the profile of  the Jersey Youth Parliament and the former the Office with young people on  Youth Assembly. We are now planning to the Island.  engage with the proposed Jersey Youth

Assembly' as it is constituted during 2025 and 2026, as part of the 20th Anniversary celebrations of the JAO.

Islanders enjoy  The JAO will look to participate in  We have not made as much progress as we

life in a strong,  Island programmes aimed at  would have liked during 2024 and will give this inclusive  supporting inclusion and diversity.  area more focus during 2025.

community  This will include the donation of

volunteer time by the C&AG.

Households  The JAO will review its  We continued the review of our Operating have sufficient  expenditure to ensure that it is  Model during 2024. Early in 2024 we changed income to  using Jersey-based supply chains  our IT support provider to an on Island

afford a decent  where appropriate and possible  provider. We have encouraged all our standard of  and that it is paying its suppliers  suppliers to engage with the States of Jersey living  promptly.  systems to enable prompt payment.

Government  The C&AG will manage the  The C&AG achieved an underspend of has sustainable  finances of the JAO appropriately  £47,300 representing 4.1% of the 2024 finances  to ensure that value for money can  allocated budget.

be demonstrated by the

expenditure of the Office.

Jersey benefits  The JAO will review its travel  Our Travel Policy has been updated.

from good air  policy to maximise the use of  68.4% of flights in 2024 were taken with Blue quality  sustainable transport thereby  Islands which reports that it partners with the

contributing to better air quality  Durrell Conservation Trust Rewild Carbon

on the Island.  Programme to balance its flight emissions (65%

of flights taken in 2023 were with Blue Islands).

8 | Annual Report and Accounts 2024

Performance during 2024

The Jersey Audit Office Strategy 2024-27 was published on 26 January 2024 containing the JAO four key ambitions, planned actions and Key Performance Indicators (KPIs). Performance against this Strategy is summarised below.

Ambition: High performing audit organisation

Planned actions  KPIs 2024-27  How we performed in 2024

Deliver an enhanced  Annual audits and  Financial statements auditors'  MET audit quality  reports delivered to a  performance assessed at 4.6 out of 5

framework  high quality and to  (4.4 out of 5 in 2023). Positive results

agreed timescales from independent quality inspections.

New INTOSAI compliant performance audit methodology implemented.

68% of stakeholders strongly agree or agree that the work of the C&AG delivers high quality outcomes (77% in 2023).

For more details of our performance against our Audit Quality Framework see our Audit Quality Transparency Report 2024

Improve our project  Number of projects  All performance audits were  MET management and use  supported by  supported by effective use of Office

of technology  effective use of Office  365.

365

Measure and action  Action plans in place  Action plans reported to Board of  MET stakeholder feedback to address  Governance for stakeholder feedback

stakeholder feedback received for 2023 and 2024.

Enhance links to  Benchmarking  Positive results from benchmarking  MET other audit  against other audit  reported in this report and our Audit

organisations to  offices  Quality Transparency Report 2024.

share best practice

and enhance

benchmarking

9 | Annual Report and Accounts 2024

Ambition: Making a difference

Planned actions  KPIs 2024-27  How we performed in 2024

Share best practice  Downloads from  Website downloads have increased  MET more proactively  website and  significantly during 2024 to a record

feedback from  reported level of over 56,000.

best practice

events

Continued investment  Website visits and  Website sessions during 2024 reached a  MET in communication  social media  record level of over 9,900.

mechanisms  engagement

Implement our  Implementation of  Some aspects of our Strategy have been  PARTIALLY Corporate Social  Corporate Social  implemented however there is more to  MET Responsibility  Responsibility  do.

Strategy  Strategy

Ambition: Building a better organisation

Planned actions  KPIs 2024-27  How we performed in 2024

Support the Board of  Positive assurance  Positive assurance statement issued. MET Governance to  report from the

perform its role  Board of

effectively  Governance  

Implement effective  Stakeholders  A successful transition plan has been  MET succession plans for  observe a smooth  implemented for the Chair of the Board

the Chair of the Board  transition in the  of Governance. A transition plan for the

of Governance and the  Chair and C&AG  C&AG is being implemented during

C&AG as they reach  roles  2025 and 2026.

the end of their terms

of office

Refresh policies and  Refreshed suite of  The project to update policies and  PARTIALLY procedures including  policies and  procedures has continued during 2024  MET

the service level  procedures in  and will be completed in 2025.

agreement with the  place

States

Support the drafting  Updated C&AG  Ongoing discussions have been held  MET and implementation of  (Jersey) Law  with Ministers, the Chair of the Public

an updated C&AG  enacted  Accounts Committee and relevant

(Jersey) Law  officers during 2024.

The four-year Strategy is updated each year on a rolling basis. The JAO Strategy 2025-28 was published on 8 January 2025 maintaining the four key ambitions of the JAO. It is available at www.jerseyauditoffice.je

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Reports issued in 2024

The C&AG issued eight reports, one good practice guide and a self assessment tool during 2024. Further details of the C&AG's findings and recommendations are contained in the individual publications and in the Annual Report of Findings issued in March 2025.

Quarter Three

Quarter One Commissioning of Services

Electronic Patient  Oversight of Arm's Record Length Bodies

Use of Consultants - Transparency and

Follow Up Excellence in Annual Annual Report Self- Reporting: Report and

Assessment Tool Good Practice Guide

Quarter Two Quarter Four

Critical  Jersey Performance Infrastructure  Framework

Resilience - Energy Tackling Fraud

and Error

Comparing performance with other audit offices

In each of our Annual Reports from 2017, the C&AG has compared the performance of the JAO with seven other audit offices. For 2024, one of the seven audit organisations has been dropped from the comparison due to its published data not being up to date, and a new comparator has been added. The group now comprises audit offices from British Overseas Territories and Crown Dependencies, Canadian provinces, Australian states and territories and an independent country, with populations ranging from 63,000 to 575,000.

In the graphs that follow, organisations other than the JAO are anonymised and numbered 1 to 7 for 2023 data and 1 to 8 (with number 4 now not included) for 2024.

There are limitations in making comparisons because of differences in the responsibilities of the audit offices, their business models, prevailing costs in the economy, budgetary arrangements and applicable accounting frameworks. However, the results from our analysis in 2024 show the same as in previous years: the JAO provides a significant volume of reports to the States Assembly, particularly when compared to relative population size.

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Number of JAO reports issued in 2024 and 2023 compared to other audit offices

2024 2023

12 15 10

8 10 6

4 5 2

0 0

7 JAO 6 2 5 1 8 3 7 JAO 6 3 2 5 1 4

Source: JAO analysis

Number of reports (other than on financial statements) per 100,000 population (2024 & 2023)

2024 2023

12 12

10 10

8 8

6 6

4 4

2 2

0

JAO 2 6 8 7 3 1 5 0 JAO 3 6 2 4 7 1 5 Source: JAO analysis

Since 2021, the JAO has been a member of the European Organization of Regional Audit Institutions (EURORAI). This has provided us with further benchmarking data on the cost of audit offices compared to government expenditure. For 2024 we have compared JAO costs to the new group of seven (with number 4 removed and number 8 added) and 13 of the original 16 EURORAI members - three have been removed from the comparison as their published data is not up to date. Analysis shows that the JAO's costs remain in the middle of the range.

Expenditure of JAO and comparative audit offices as a proportion of government expenditure

2024 2023

0.4% 0.4%

0.3% 0.3%

0.2% 0.2%

0.1% 0.1%

0.0% 0.0%

5 3 2 6 1 7 8 3 5 2 6 4 7 1

E1 E7 E2 E4 E6 E3 E1 E2 E4 E7 E6 E5 E3

E12 E15 E14 E11 E16 E19 E18 E13 E17 E15 E14 E11 E12 E16 E19 E18

JAO JAO

Source: JAO analysis

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Risks

During 2024 the JAO carried out a fundamental review of its risk management framework to better align risks to Board and Office objectives and to take account of developments in risk management best practice.

Process based on ISO31000

All members of the C&AG Board and the JAO team contribute to the identification, review and management of risk. The risk register captures risks with the potential to have a significant adverse effect on operations. Risks are reviewed in the context of their relevance to the operation of the C&AG Board of Governance and the four JAO key ambitions. Risks are assessed and evaluated based on the likelihood and impact of risks occurring and the mitigating arrangements in place. Further mitigations are planned where the level of risk is outside the level of risk tolerance identified for each area. The risk register is reviewed at each meeting of the Board of Governance.

Under the Board and each key ambition, risks are categorised as follows:

Governance    Quality  Reputation Finance     Economy, Efficiency and   Climate

Effectiveness

After mitigating actions have been considered the Office risk profile has largely remained stable, with decreases in some finance, climate, reputation and economy, efficiency and effectiveness risks.

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Risks

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Risks

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Financial Performance

Resources for the C&AG are allocated through the Government Plan. Performance against budget since 2015 is summarised below.

Financial Performance 2015 to 2024

£1,400,000 £1,200,000 £1,000,000

£800,000 £600,000 £400,000 £200,000

£0

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Budget Actual on a comparable basis

Source: JAO Audited Annual Accounts 2015 to 2024

For 2024, the C&AG achieved an underspend of £47,300 representing 4.1% of the allocated budget of £1,152,000. This underspend was achieved through lower than expected costs in a number of areas, the most significant being lower than planned fees for the States of Jersey audit as an anticipated increase in audit scope did not take place.

A detailed breakdown of the C&AG's costs in 2024 is set out below. Further information on the financial performance is provided in the Annual Accounts.

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Section 2: Accountability Report

The Accountability Report provides key accountability information to the States Assembly. It comprises:

• the Corporate Governance Report which describes the JAO's governance structures and how they support the achievement of its objectives.

It contains the C&AG's Report, the Statement of Responsibilities of

the C&AG and the Governance Statement

• the Remuneration and Staff Report which provides information about the remuneration of the C&AG, the Deputy C&AG,

the Chair of the Board of Governance and independent contractors working for the JAO; and

• the Accountability Statement and Audit Report which bring together two further reports that form a key part of the C&AG's and JAO's accountability. These are the Board of Governance report on the C&AG's expenses and the JAO's independent auditor's report on

the annual accounts.

Comptroller and Auditor General's Report

I was appointed as C&AG on 1 January 2020 and personally direct the activities of the JAO with the support of the Deputy C&AG.

The Board of Governance of the Office of the Comptroller and Auditor General comprises a Chair, between two and four independent members and the C&AG (ex officio). During 2024, the post holders were:

• Grace Nesbitt OBE (Chair)

• Professor Russel Griggs OBE (Senior Independent Member)

• Mr Robert Tinlin MBE (Independent Member)

• Mr Peter Pichler (from 16 April 2024); and

• Lynn Pamment CBE (C&AG).

All members of the Board of Governance have to complete a declaration of interests.

No Board members declared significant company directorships or other interests that might have conflicted with their responsibilities. No member of the Board had any other related-party interests.

The Board has been keen to develop its engagement with the local community and to play a role in leadership development. In parallel with the Government of Jersey's Board Apprentice programme the Board appointed its own Board Apprentice for a period of one year to March 2024. The Board aims to re-consider the apprentice programme during 2025.

Statement of Responsibilities of the Comptroller and Auditor General

Under the Comptroller and Auditor General (Jersey) Law 2014, the C&AG is required to prepare annual accounts. The accounts are prepared on an accruals basis.

I confirm that, as far as I am aware, there is no relevant audit information of which the external auditors are unaware. I have taken all the steps that I ought to have taken to make myself aware of any relevant audit information and to establish that the external auditors are aware of that information. In preparing these accounts, I have adopted International Public Sector Accounting Standards issued by the International Public Sector Accounting Standards Board and, in particular, I have:

• observed the relevant accounting and disclosure requirements and applied suitable accounting policies on a consistent basis

• made judgements and estimates on a reasonable basis; and

• prepared the accounts on a going concern basis.

I confirm that this Annual Report and Accounts as a whole is fair, balanced and understandable.

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Governance statement

My responsibilities

The C&AG has responsibility for maintaining effective governance and a sound system of internal control that supports the achievement of the JAO's policies, aims and objectives, while safeguarding the public funds and assets.

How the C&AG discharges her responsibilities

Given the small size of the JAO, the C&AG performs her functions without a formal management team. In her absence she delegates her responsibilities in accordance with a documented Scheme of Delegation.

The C&AG secures an effective system of governance and a sound system of internal control including by:

• preparing, communicating and implementing appropriate policies and procedures, in areas such as complaints and data security

• to the extent appropriate to the circumstances of the JAO, using the corporate financial and other systems of the States of Jersey. For financial systems, a service level agreement is in place. Using such systems means that the JAO does not maintain its own bank account with the attendant risks

• monitoring and forecasting expenditure against budget

• seeking professional advice from the States where necessary and appropriate, including from the Law Officers' Department and the States' corporate procurement team

• maintaining a contracts register and a gifts and hospitality register; and

• reviewing the performance of the appointed auditors.

Risk management

The JAO operates a risk register that is reviewed at each meeting of the Board of Governance. Personal data related incidents

There was one instance of data sharing without authorisation which was self-reported to the Office of the Information Commissioner during 2024. The Office of the Information Commissioner reviewed the facts and concluded no further action was required by them. There were no other personal data related incidents.

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The Board of Governance during 2024

The Board of Governance, established under the Comptroller and Auditor General (Board of Governance) (Jersey) Order 2015 (the Order'), is responsible for keeping under review whether the resources provided to the C&AG by the States Assembly have been and are being used properly, efficiently and effectively.

Profiles of Board of Governance members who served in 2024

Grace was a senior human resources professional in the Northern Ireland Civil Service. Before she retired she was responsible for Public Service and Civil Service Pensions with 100 staff and a budget of £300 million.

Grace is also Chair of the Agricultural Wages Board Northern Ireland and an independent member of a public sector audit committee.

 Grace Nesbitt OBE

Chair until

13 March 2025

Russel is an experienced business professional and has worked in a number of large private businesses as well as in large organisations and projects in the public sector.

He has held a wide range of executive and non-executive roles in private, public and charitable institutions, including the Lending Standards Board,

Professor Russel

Scott ish Mines Restoration Trust, Marie Curie Cancer Trust and the Audit Griggs OBE

Committee of the Department of Employment and Learning in Northern Senior Independent

Ireland. He was previously a Board member of Audit Scotland and Chair of its Member until

Remuneration Committee. Russel is currently Chair of South of Scotland

13 March 2025

Enterprise.

Rob has had a successful career in local government, serving in both Scott ish and English councils. He is a Chartered Town Planner but much of his career has been in corporate governance. He held the post of Chief Executive for both South Northamptonshire Council and Southend-on-Sea Borough Council.

Robert Tinlin MBE

Independent  Rob is a non-executive director on the Board of Healthcare Improvement Member -  Scotland. He has served on a range of public organisations including as a

from 14 March 2025  non-executive director on the Crown Office & Procurator Fiscal Service and as Senior Independent  a board member of NHS Digital and as a member of its remuneration,

Member  management and audit and risk committees.

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Profiles of Board of Governance members who served in 2024

Peter qualified as a chartered accountant in London in 1971 and in Canada in 1980 and is an alumnus of EY. He held a number of senior executive positions in the finance industry, both in Toronto and in Jersey, including CEO of Deutsche Bank's Offshore Group based in Jersey. For nine years until January 2024, he was a Commissioner at the Jersey Financial Services Commission.

  Peter Pichler  Peter has wide experience in banking, including in treasury, corporate Independent  lending, global custody and retail banking. His operational responsibilities

Member from   have included finance, IT, corporate restructuring and business change, and 16 April 2024  risk and compliance. His geographic responsibilities covered a number of

international finance centres in Jersey, Guernsey, Cayman Islands and

Mauritius and in other onshore jurisdictions.

He has lived in Jersey for 35 years and retired from full-time employment in 2013. He is a graduate of Reading University, has taken numerous training courses through his employers and, after retirement, completed the Institute of Directors Certificate and Diploma in Company Direction. Peter has recently accepted an honorary role as Trustee and Treasurer of Jersey Hospice.

Prior to her appointment as C&AG, Lynn was a lead partner in PwC UK's Government and Public Sector Assurance practice where she gained over 30 years' experience of working in an assurance and advisory capacity with public and private sector organisations in the UK and beyond. She was also PwC's Cardiff Office Senior Partner responsible for PwC's practice of over 250 professional staff in Wales.

Lynn Pamment

CBE  Lynn is a first class honours graduate from Cardiff University. She is a prize winning member of the Institute of Chartered Accountants in England and

Comptroller and

Auditor General  Wales (ICAEW) and is also a member of the Chartered Institute of Public

and ex officio  Finance and Accountancy (CIPFA).

member of the

Board

The Board is responsible for:

• scrutinising the use of resources by and the governance arrangements of the C&AG

• reporting any concerns to the Chief Minister and the Chair of the PAC

• if requested by the Chair of the PAC, advising on the appointment of auditors of the accounts of the C&AG

24 | Annual Report and Accounts 2024

• reviewing any estimates submitted by the C&AG to the Chair of the PAC for the purposes of the Medium-Term Financial Plan or the budget

• reviewing the audited accounts of the C&AG; and

• if requested by the C&AG, advising on the appointment, remuneration and terms and conditions of the Deputy C&AG.

The Board also has a power to prepare an assurance report on the expenses of the C&AG. How the Board of Governance discharged its responsibilities

The Board met four times during 2024. During 2024, the Board:

• reviewed the JAO risk register

• monitored the financial performance of the JAO, including the expenses incurred by the C&AG

• reviewed the gifts and hospitality register maintained for the JAO

• received and reviewed the report from the external auditors appointed by the Chair of the PAC on the JAO accounts; and

• approved an assurance statement on the C&AG's 2023 expenses. For 2024, the Board has prepared an assurance statement for the C&AG's 2024 expenses and this is included within this Accountability Report.

The Board did not report any matter to the Chief Minister and Chair of the PAC.

The Board carried out an annual strategic review of its operations in October 2024. The Board's Strategic Framework and annual work programme was updated to include its activities in relation to the JAO Strategy and the annual Audit Quality Transparency Report. No changes were required to the Board's Standing Orders and Relationship Code following the updates made in 2023. The Board's Code of Conduct was revised to more overtly refer to JAO values and INTOSAI standards and updated to reflect changes in the JAO travel policy and to require a new annual declaration for Board members to confirm they comply with the Code.

25 | Annual Report and Accounts 2024

The Board considered the results of its annual self-assessment of Board performance and key themes arising from the Chair's evaluation of individual Board member performance. The Board was content that overall it was working well but highlighted the need for some changes to the self-assessment questionnaire to ensure it remained focussed on the specific duties and responsibilities of the Board.

During 2024 the Government of Jersey, together with the Jersey Appointments Commission, engaged in a recruitment exercise to recruit a new Chair and Independent Member of the Board to replace incumbent members who came to the end of their term of office on 13 March 2025. The outgoing Chair sat on the recruitment panel together with the Chair of the Public Accounts Committee, the Assistant Chief Minister, the States Greffier and the Chair of the Jersey Appointments Commission who also chaired the panel. The outcome of this exercise was considered by the States Assembly at their meeting on 10 December 2024. The Assembly confirmed the appointment of Michael Whitehouse OBE as the new Chair of the Board and Cosette Reczek as an Independent Member of the Board. Both take up their posts from 14 March 2025.

Public Finances Manual

The Public Finances Manual (PFM) sets out best practice, high level principles and requirements for financial management of the States of Jersey. Since 2022 the PFM has contained a section which sets out specific considerations for the Office of the Comptroller and Auditor General. The JAO's policies and procedures comply with the PFM requirements.

Quality of data used

Both the Board of Governance and the C&AG rely on financial information drawn from the States of Jersey's financial systems that is subject to review and scrutiny by the finance and governance affiliate working for the C&AG. Both the Board of Governance and I are satisfied that such financial information is acceptable for the purposes for which it is used.

Review of effectiveness

I have responsibility for reviewing the effectiveness of the system of internal control. My review is informed by my own work, the work of those working for me, the work of the Board of Governance and information received from the States. Based on that review I am satisfied with the arrangements in place for governance, risk management and internal control.

Significant internal control weaknesses

I am able to report that there were no significant weaknesses in the JAO's system of internal control in 2024 that affected the achievement of the JAO's key policies, aims and objectives.

The Corporate Governance Report has been signed on 12 May 2025.

Lynn Pamment CBE Comptroller and Auditor General

26 | Annual Report and Accounts 2024

Remuneration and Staff Report

During 2024, the JAO relied on the services of 11 independent contractors, including the C&AG and the Deputy C&AG. The JAO has no employees. In 2023, the JAO also bought in services from Audit Wales.

Fees paid to independent contractors

Independent contractor Fees paid 2024 £  Fees paid 2023 £ Comptroller and Auditor General 125,100  118,800 Deputy Comptroller and Auditor General 114,100  40,300 Other independent contractors 271.000  314,100 Bought in services  0  6,900 Total  510,200  480,100

The remuneration of independent contractors except the Deputy C&AG comprises only fees; they do not receive any bonuses, non-cash benefits or pension benefits. The C&AG is remunerated at a daily rate under the terms of a contract entered into on behalf of the Chief Minister and the Chair of the PAC. The Deputy C&AG and other independent contractors are remunerated at daily rates under the terms of contracts entered into by the C&AG. The previous Deputy C&AG left in March 2023, and the new Deputy C&AG started to provide services from mid November 2023. All remuneration is subject to oversight by the Board of Governance as part of its statutory duties.

The remuneration of the Chair of the Board of Governance is determined by the States Assembly. Board of Governance independent members are not remunerated.

Remuneration of the Chair of the Board of Governance

Chair  Fees paid 2024 £  Fees paid 2023 £

Grace Nesbitt OBE   2,000  2,000 No payments in compensation for loss of office were made in the year and no payments were made to

any office holder who was not in post during the year.

The Remuneration and Staff Report has been signed on 12 May 2025.

Lynn Pamment CBE Comptroller and Auditor General

27 | Annual Report and Accounts 2024

Report of the Board of Governance of the Office of the Comptroller and Auditor General to the States Assembly on the expenses of the Comptroller and Auditor General

Article 5(7) of the Comptroller and Auditor General (Board of Governance) (Jersey) Order 2015 provides that the Board may prepare an assurance report upon the annual expenses of the Comptroller and Auditor General.

Scope of our work

The Board has through the course of 2024 and in preparing this statement:

• obtained an understanding of the controls and processes in place over the expenses incurred by and on behalf of the Comptroller and Auditor General for travel and subsistence

• received an analysis of the expenses incurred by and on behalf of the Comptroller and Auditor General for travel and subsistence for the year ended 31 December 2024

• assessed the reasonableness of those expenses in light of the role of the Comptroller and Auditor General

• sought explanations for any unusual items; and

• evaluated the reasonableness of such explanations.

Statement

No matters have arisen from the work of the Board that we wish to draw to the attention of the States Assembly.

Michael Whitehouse OBE

Chair

For and on behalf of the Board of Governance of the Office of the Comptroller and Auditor General

12 May 2025

28 | Annual Report and Accounts 2024

Comptroller and Auditor General

Opinion

We have audited the financial statements of the Office of the Comptroller and Auditor General (the C&AG') which comprise the Statement of comprehensive net expenditure, Statement of financial position, Statement of comparison of budget and actual amounts and notes to the financial statements, including a summary of significant accounting policies.

In our opinion, the accompanying financial statements:

• give a true and fair view of the financial position of the C&AG as at 31 December 2024 and of its financial performance for the year then ended;

• are in accordance with International Public Sector Accounting Standards ("IPSASs") as issued by the International Public Sector Accounting Standards Board ("IPSASB"); and

• have been prepared in accordance with the requirements of the Comptroller and Auditor General (Jersey) Law 2014.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements' section of our report. We are independent of the C&AG in accordance with the ethical requirements that are relevant to our audit of the financial statements in Jersey, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We are responsible for concluding on the appropriateness of the Comptroller and Auditor Generals' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the C&AG's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify the auditor's opinion. Our conclusions are based on the audit evidence obtained up to the date of our report. However, future events or conditions may cause the C&AG to cease to continue as a going concern.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the C&AG's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

29 | Annual Report and Accounts 2024

Comptroller and Auditor General

In auditing the financial statements, we have concluded that the Comptroller and Auditor Generals' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

The responsibilities of the Comptroller and Auditor General with respect to going concern are described in the Responsibilities of the Comptroller and Auditor General for the financial statements' section of this report.

Other information

The Comptroller and Auditor General are responsible for the other information. The other information comprises the information included in the Annual Report and Accounts', other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Responsibilities of the Comptroller and Auditor General for the financial statements

As explained more fully in the Corporate Governance Report set out from page 21 the Comptroller and Auditor General is responsible for the preparation of the financial statements which give a true and fair view in accordance with UK GAAP, and for such internal control as the Comptroller and Auditor General determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Comptroller and Auditor General is responsible for assessing the C&AG's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Comptroller and Auditor General either intend to liquidate the C&AG or to cease operations, or have no realistic alternative but to do so.

30 | Annual Report and Accounts 2024

Comptroller and Auditor General

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

• We obtained an understanding of the legal and regulatory frameworks applicable to the Office of the C&AG's and sector in which it operates. We determined that the following laws and regulations were most significant: IPSASs and Comptroller and Auditor General (Jersey) Law 2014.

• We understood how the Office of the C&AG's is complying with those legal and regulatory frameworks by, making inquiries to management. We corroborated our inquiries through our review of Board of Governance minutes. We identified whether there is culture of honesty and ethical behaviour and whether there is a strong emphasis of prevention and deterrence of fraud. We discussed the policies and procedures regarding compliance with laws and regulations with the Comptroller and Auditor General and management and corroborated our enquiries through review of Board of Governance minutes.

• We assessed the susceptibility of the Office of the C&AG's financial statements to material misstatement, including how fraud might occur, by evaluating management's incentives and opportunities for manipulation of the financial statements. This included the evaluation of the risk of management override of controls. We determined that the principal risks were in relation to:

31 | Annual Report and Accounts 2024

Comptroller and Auditor General

o journal entries that increased expenditure or non-standard journal entries processed at year end;

o transactions with related parties.

• Our audit procedures involved:

o understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

o identifying and testing journal entries, in particular any journal entries posted with unusual account combinations;

o assessing the extent of compliance with the relevant laws and regulations as part of our procedures on the related financial statement item.

• We assessed the appropriateness of the collective competence and capabilities of the engagement team including consideration of the engagement team's:

• Understanding of, and practical experience with audit engagements of a similar nature and complexity through appropriate training and participation;
• Knowledge of sector in which the client operates;
• Understanding of the legal and regulatory requirements specific to the Office of the C&AG including the provisions of the Comptroller and Auditor General (Jersey) Law 2014.

• We did not identify any matters relating to non-compliance with laws and regulations or relating to fraud; and

• In assessing the potential risks of material misstatement, we obtained an understanding of:

• the Office of the C&AG's operation, including the nature of its expenditure sources, services and of its objectives and strategies to understand the classes of transactions, account balances, expected financial statement disclosures and risks that may result in risks of material misstatement.
• the applicable statutory provisions
• the Office of the C&AG's control environment.

32 | Annual Report and Accounts 2024

Comptroller and Auditor General

Use of our report

This report is made solely to Comptroller and Auditor General in accordance with Article 19 of the Comptroller and Auditor General (Jersey) Law 2014. Our audit work has been undertaken so that we might state to the Comptroller and Auditor General those matters we are required to state to her in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Comptroller and Auditor General, for our audit work, for this report, or for the opinions we have formed.

Grant Thornton Limited

Chartered Accountants St Helier, Jersey

13 May 2025

33 | Annual Report and Accounts 2024

Office of the Comptroller and Auditor General:

Annual Accounts for the year ended 31 December 2024

Statement of comprehensive net expenditure For the year ended 31 December 2024

Notes  2024  2023 Expenses  £  £

35 | Annual Report and Accounts 2024

Statement of financial position

Notes  31 December  31 December

2024  2023

£ £

Liabilities Current liabilities

36 | Annual Report and Accounts 2024

Statement of comparison of budget and actual amounts For the year ended 31 December 2024

Note  2024  2023 Net revenue expenditure  £  £

37 | Annual Report and Accounts 2024

Notes to the financial statements

1  General Information

These financial statements were authorised for issue by the Comptroller and Auditor General on 12 May 2025.

The Office of the Comptroller and Auditor General is established by the States of Jersey under the Comptroller and Auditor General (Jersey) Law 2014. The financial activities of the Office of the Comptroller and Auditor General are included within the financial statements of the States of Jersey presented to the States Assembly by the Minister for Treasury and Resources (R.68/2025).

The Office of the Comptroller and Auditor General's principal activity is serving as a supreme audit institution for Jersey and is located in Jersey.

The financial statements cover the individual entity as no other entities have been identified for inclusion within the financial statements in accordance with applicable accounting standards.

2  Statement of compliance and basis of preparation

The financial statements have been prepared in accordance with and comply with International Public Sector Accounting Standards (IPSAS). The financial statements are presented in pounds sterling which is the functional and reporting currency of the Office of the Comptroller and Auditor General and all values are rounded to the nearest one hundred pounds.

The financial statements are prepared on the basis of historical cost unless otherwise stated. The financial statements are prepared on an accruals basis. Foreign currency transactions undertaken in a foreign currency are translated into GBP at the rate ruling at the date of each transaction. Foreign exchange gains and losses resulting from the settlement of such transactions are recognised in profit or loss.

3  Summary of significant accounting policies

1. Reporting financial performance

The expenses of the Office of the Comptroller and Auditor General are directly met by the States of Jersey and no cash or equivalent is advanced to the Office of the Comptroller and Auditor General. The Office of the Comptroller and Auditor General has no rights to funding voted by the States Assembly but not utilised in the course of the year.

Therefore:

• these financial statements include a Statement of Comprehensive Net Expenditure as the Office of the Comptroller and Auditor General receives no income

38 | Annual Report and Accounts 2024

• the Statement of Financial Position includes Receivables from non-exchange transactions representing the amounts payable by the States of Jersey's Consolidated Fund to meet the liabilities of the Comptroller and Auditor General

• the Statement of Financial Position includes no reserves; and

• no Cash Flow Statement is prepared as there are no cash flows specifically attributable to the Office of the Comptroller and Auditor General.

2. Recognition of expenditure

Expenditure in respect of fees for the audit of the annual financial statements of the States of Jersey and the Office of the Comptroller and Auditor General are recognised in the period to which the financial statements relate. Expenditure is stated net of the amount falling on the Social Security Funds in respect of the audit of the States of Jersey as full responsibility for the portion of the cost of the audit of the Social Security Funds rests with the Social Security Funds and the Comptroller and Auditor General is acting as an agent in respect of this amount.

Expenditure in respect of fees for other work undertaken for the Office of Comptroller and Auditor General is recognised in the period in which the service is provided.

Expenditure is reported net of Goods and Services Tax.

3. Property, plant and equipment

The Office of the Comptroller and Auditor General's policy is to recognise property, plant and equipment in the financial statements at cost less accumulated depreciation where the cost of an individual item or group of items exceeds £10,000. No such items were held at 31 December 2024 (or 31 December 2023).

4. Leases

Operating leases are leases that do not transfer substantially all the risks and benefits of ownership of the leased item to the Office of the Comptroller and Auditor General. Operating lease payments are recognised as an operating expense on a straight-line basis over the lease term.

5. Provisions

Provisions are recognised when the Office of the Comptroller and Auditor General has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits or service potential will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.

The Office of the Comptroller and Auditor General does not recognise contingent liabilities but discloses details of any contingencies in the notes to the financial statements, unless the possibility of an outflow of resources embodying economic benefits or service potential is remote.

39 | Annual Report and Accounts 2024

The Office of the Comptroller and Auditor General does not recognise contingent assets but discloses in the notes to the financial statements details of any possible assets whose existence is contingent on the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Office of the Comptroller and Auditor General.

6. Related parties

The Office of the Comptroller and Auditor General regards a related party as a person or entity with the ability to exercise significant influence over the work carried out by the Office and the application of its resources.

7. Changes in accounting policies and estimates

The Office of the Comptroller and Auditor General recognises the effects of changes in accounting policy retrospectively. The effects of changes in accounting policy are applied prospectively if retrospective application is impractical.

There are no changes in accounting policy compared with the financial statements for the year ended 31 December 2023.

The Office of the Comptroller and Auditor General recognises the effects of changes in accounting estimates prospectively by including them in net expenditure.

8. Classification of expenses

The Office of the Comptroller and Auditor General adopts an expenditure classification that is relevant to the circumstances of the Office.

9. Budget information

The annual budget for the expenditure of the Office of the Comptroller and Auditor General is prepared on the basis of revenue expenditure. The budget classification used is that adopted by the States of Jersey.

10. Significant judgements and sources of estimation uncertainty

The preparation of the financial statements of the Office of the Comptroller and Auditor General in conformity with IPSAS requires management to make judgements, estimates and assumptions that affect the reported amounts of expenses, assets and liabilities, and the disclosure of any contingent liabilities, at the end of the reporting period. However, uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of the asset or liability affected in future periods.

In the process of applying the accounting policies, the Office of the Comptroller and Auditor General has made judgements which have an effect on the amounts recognised in the financial statements. None of these judgements are considered to be significant judgements.

40 | Annual Report and Accounts 2024

The Office of the Comptroller and Auditor General has not identified any assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

11. New IPSAS [P.02.03]

The Office of the Comptroller and Auditor General has determined that the following IPSAS relevant to its activities will have no impact on the reporting financial position or performance of the Office:

IPSAS where first time adoption is required for financial periods beginning on or after 1 January 2025 but early adoption is permitted

• IPSAS 44 Non-current Assets Held for Sale and Discontinued Operations

• IPSAS 45 Property, Plant and Equipment

• IPSAS 46 Measurement

IPSAS for which first time adoption is required for financial periods beginning on or after 1 January 2026 but early adoption is permitted:

• IPSAS 48 Transfer Expenses

• IPSAS 49 Retirement Benefit Plans

First time adoption of IPSAS 43 Leases is required for financial periods beginning on or after 1 January 2025 but early adoption is permitted. The Office of the Comptroller and Auditor General anticipates that the implementation of IPSAS 43 will increase assets through the recognition of a right of use asset for assets held under operating leases and increase liabilities through the recognition of a lease liability for those assets.

IPSAS 47 Revenue is applicable for financial periods beginning on or after 1 January 2026. The Office of the Comptroller and Auditor General anticipates that the implementation of IPSAS 47 will result in changes to disclosures in respect of revenue but will not result in changes in the recognition and measurement of revenue.

41 | Annual Report and Accounts 2024

4  Employee and similar costs: other

£ £

5  Other costs: audit of States accounts

The expenditure of £459,600 (2023: £452,000) is stated net of a charge to the States of Jersey's Social Security Funds of £88,500 (2023: £87,000).

42 | Annual Report and Accounts 2024

6  Other costs: general

£ £

43 | Annual Report and Accounts 2024

7  Other costs: accommodation-related  

£ £

8  Trade receivables from exchange transactions

£ £

9  Trade payables from exchange transactions

£ £

10  Financial instruments – financial risk management

The fair value of receivables from exchange transactions is equal to their carrying value due to the short - term maturities of these instruments.

As the Office of the Comptroller and Auditor General has no assets arising from exchange transactions, the Office of the Comptroller and Auditor General is not exposed to any credit risk. Trade receivables from non-exchange transactions do not expose the Office of the Comptroller and Auditor General to credit risk.

44 | Annual Report and Accounts 2024

As the States of Jersey meet the liabilities of the Office of the Comptroller and Auditor General, the Office of the Comptroller and Auditor General is not exposed to any liquidity risk.

Currency risk represents the risk that the fair value of future cash flows of a financial instrument will fluctuate as a result of changes in foreign exchange rates. As the Office of the Comptroller and Auditor General does not hold assets or liabilities denominated in foreign currencies at the year end, the Office of the Comptroller and Auditor General is not exposed to any currency risk.

As the Office of the Comptroller and Auditor General does not have any interest-bearing assets or liabilities, the Office of the Comptroller and Auditor General is not exposed to any market risk.

11   Related party disclosures

Terms and conditions of transactions with related parties

Lynn Pamment, who was Comptroller and Auditor General during 2024 and 2023 was engaged under a contract for services. Helen Thompson was engaged as Deputy Comptroller and Auditor General from November 2023 under a contract for services. Prior to that Stephen Warr en was engaged as Deputy Comptroller and Auditor General until the end of March 2023 under a contract for services.

Purchases from Lynn Pamment, Helen Thompson and Stephen Warr en were made at terms equivalent to those that prevail in arm's length transactions. Outstanding balances at the year end are unsecured, interest-free and settled in cash. There have been no guarantees provided or received from any related party payable.

Key management personnel

The key management personnel, as defined by IPSAS 20 Related Party Disclosures, comprised Lynn Pamment, as Comptroller and Auditor General and Stephen Warr en and Helen Thompson serving consecutively as the Deputy Comptroller and Auditor General, were empowered under Article 16 of the Comptroller and Auditor General (Jersey) Law 2014 to discharge the functions of Comptroller and Auditor General in Lynn Pamment's absence. Lynn Pamment, Helen Thompson and Stephen Warr en were engaged on a contract for services basis and the total expenditure on their engagement amounts to £239,300 (2023: £159,100), which includes employers social security contributions where relevant.

States of Jersey

Article 9 of the Comptroller and Auditor General (Jersey) Law 2014 places a duty on the States to ensure that the Comptroller and Auditor General is provided with sufficient resources to perform her functions.

The duty to ensure that sufficient resources are provided is discharged by the States meeting the costs of the Office of the Comptroller and Auditor General.

45 | Annual Report and Accounts 2024

States of Jersey Social Security Funds

The Social Security Fund, Social Security (Reserve) Fund, Health Insurance Fund and Long-Term Care Fund established by the States of Jersey meet the portion of the cost of the audit of the States' accounts relating to those Funds.

12   Operating lease payments

The Comptroller and Auditor General entered into a new operating lease agreement for serviced office accommodation on 21 December 2021 for a period of four years to December 2025. Under the terms of the lease rent increases on 21 December each year by Jersey Retail Price s Index with effect from 1 January 2023. The term of the lease automatically renews for further successive periods of four years until terminated by either the lessee or lessor. Future minimum lease payments under the new agreement amount to £35,900 (2023: £57,700), £35,900 (2023: £28,900) of which is payable within one year, with the remaining £nil (2023: £28,800) being payable between 2 to 5 years inclusive.

Lease payments recognised as an expense during the period amounted to £35,900 (2023: £26,700). The commencement of the rental period in 2022 included an initial rent free period of one month in accordance with the terms of the lease. This has been recognised over the period of the lease.

13  Contingent liabilities

At the end of the financial year the Office of the Comptroller and Auditor General had no contingent liabilities (31 December 2023: nil).

14  Segment information

The Office of the Comptroller and Auditor General is organised into two functional areas:  

• The Jersey Audit Office which is directed by the Comptroller and Auditor General and through which she delivers her responsibilities to:

o report to the States Assembly on the effectiveness of internal control, general corporate governance arrangements and economy, efficiency and effectiveness; and

o appoint auditors of the accounts of the States and other specified entities; and

• Oversight which includes:

o the review of the annual report and audit of financial statements of the Comptroller and Auditor General by external auditors; and

o the Board of Governance, responsible for keeping under review whether the resources provided to the Comptroller and Auditor General by the States Assembly are used properly, efficiently and effectively. In 2024 the Board comprised four independent members (2023: three) appointed by the States Assembly and the Comptroller and Auditor General ex officio.

46 | Annual Report and Accounts 2024

Expenditure attributable to the governance business unit comprises:

• the remuneration and expenses of the independent members of the Board of Governance established under the Comptroller and Auditor General (Board of Governance) (Jersey) Order 2015

• a proportion of the remuneration of the Comptroller and Auditor General and the Deputy Comptroller and Auditor General, Helen Thompson, reflecting the time spent preparing for and attending meetings of the Board

• a proportion of the remuneration of the previous Deputy Comptroller and Auditor General, Stephen Warr en and subsequently, the Jersey Audit Office Finance and Governance Affiliate reflecting the time spent in their capacity as Secretary of the Board

• the fee for the audit of the accounts of the Office of the Comptroller and Auditor General; and

• other costs directly related to the work of the Board.

The Office of the Comptroller and Auditor General operates in only one geographic location and therefore no segments are monitored geographically.

Reportable segments 2024

General  Governance  Total operations

Segment expenses £  £  £

47 | Annual Report and Accounts 2024

Reportable segments 2023

15  Events after the reporting period

There are no material non-adjusting events after the reporting date. 48 | Annual Report and Accounts 2024

16  Reconciliation of performance against budget to Statement of Comprehensive Net

Expenditure  

There is potential for differences between the financial performance of the Office of the Comptroller and Auditor General reported in the Annex to the States of Jersey 2024 Annual Report and Accounts and that reported in these financial statements as a result of:

• use of a different definition of expenditure

• use of different accounting policies

• use of different estimation procedures

• use of a different unit of rounding; and

• adoption of financial statements on different dates.

Performance against budget for the year ended 31 December 2024 can be reconciled as follows:

£ £

49 | Annual Report and Accounts 2024

17  Differences between original budget, final budget and actual

Original budget 2024' represents the sum for the year ended 31 December 2024 included in the Government Plan 2024-2027 as Amended, approved by the States Assembly on 14 December 2023.

Adjustments' shows there were no in-year budget adjustment for the year ended 31 December 2024.

Final budget 2024' shows the final budget reported in the financial statements of the States of Jersey presented to the States Assembly by the Minister for Treasury and Resources (R.68/2025) and reflecting the Original budget 2024 approved by the States Assembly on 14 December 2023.

The budget is prepared on an accruals basis using the States of Jersey budget classification.

Budget and actuals cover the activities of the Office of the Comptroller and Auditor General.

The principal reason for the variance of actual performance against budget relates to the audit of the accounts of the States of Jersey due the anticipated expansion of the audit boundary during 2024 being delayed. Other variances principally relate to adjustments to prepayments and accruals arising from timing differences between the date of preparation of the Office of the Comptroller and Auditor General Annual Report and Accounts in March 2025 and the closure of the Government of Jersey financial accounting ledgers in December 2024.

50 | Annual Report and Accounts 2024

LYNN PAMMENT CBE Comptroller and Auditor General

Jersey Audit Office, De Carteret House, 7 Castle Street, St Helier, Jersey JE2 3BT T: +44 1534 716800 E: enquiries@jerseyauditoffice.je W: www.jerseyauditoffice.je