Board of Auditors submits 2022 Annual Public Report to H.S.H. the Sovereign Prince

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On 15 March 2023, Mr Christian Descheemaeker, Chairman of the Board of Auditors, submitted to H.S.H. the Sovereign Prince its 2022 Annual Public Report. The report was approved by the Principality of Monaco’s supreme public auditing institution on 13 December 2022. This date is identical to last year’s date, and significantly earlier than in previous years.

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 2022, the Board of Auditors first audited the State’s accounts and financial management during the 2021 financial year, in accordance with the legislation that governs the Board’s activities. The purpose of the report is to allow H.S.H. the Sovereign Prince to establish the budget for the financial year.

 Second, the Board of Auditors audited:

• housing aid granted by the State to residents living within the Principality of Monaco;
• the Louis II Stadium for the financial years from 2016 to 2020;
• the Nouveau Musée National de Monaco for the financial years from 2016 to 2021;
• the Société d’Exploitation des Ports de Monaco (SEPM) and its subsidiary, the Société Monégasque Internationale Portuaire for the financial years from 2016 to 2020;
• the company Marques de l’État for the financial years 2012 to 2021.

In addition, audits of the Social Protection Unit (for the financial years 2016 to 2020) and Princess Grace Hospital (for the financial years 2018 to 2021) were completed. Reviews of these audits are currently underway.

Finally, an audit of the Commune was completed for the financial years 2019 to 2021. However, the review of this audit will not begin until 2023.

In 2022, relationships with foreign supreme public auditing institutions and multinational associations were naturally maintained, particularly with the International Organization of Supreme Audit Institutions (INTOSAI), which held its Congress in Rio de Janeiro (Brazil) in November 2022; the Board of Auditors participated in this event.

With a view to the national and municipal elections, in 2022 the Electoral Campaign Auditing Committee – on which three members of the Board of Auditors, including its President, sit – began its work to inform candidates.

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