Press Release No: 18/2008
Date : 8 August 2008
The High Court today dismissed a claim by the Auditor General against the Reserve Bank for Declarations that the Auditor General is legally required to audit the accounts of the Reserve Bank and that the Reserve Bank is legally required to allow the Auditor General to have access for audit purposes to the records and accounts of the Reserve Bank.
The Auditor General had claimed that he was required to audit the accounts of the Reserve Bank for the year ending 31 December 2007 despite the fact that the accounts had been duly completed by another External Auditor appointed by the Board of the Reserve Bank with the approval of the Minister for Finance. He also demanded the right to insist upon auditing the accounts of the Reserve Bank for future years.
The High Court recognised the right of the Reserve Bank, subject to the Minister’s approval to appoint outside auditors other than from the auditor general’s office and approved the existing practice of the Reserve Bank with regard to the appointment of external auditors.
The High Court also awarded costs against the Auditor General.