Friday 26 May 2017
The Scrutiny Management Committee (the Committee) today releases an independent report produced by KPMG Channel Islands Limited (KPMG) into the issuing of the States of Guernsey Bond.
The Committee commissioned KPMG to undertake a review, following ongoing political and public concerns.
The Committee intends to discuss the points of note and the recommendations from the KPMG report with representatives from the Committee for Policy & Resources at a public hearing which will be held at 10am on the 5th of July in the Royal Court.
The President of the Scrutiny Management Committee Deputy Chris Green commented:
"I welcome the release of this independent report commissioned by the Committee. The report, along with the forthcoming public hearing, will provide the clarity which Members of the States' Assembly and the public have been seeking on this matter.
The report provides an important independent assessment on one of the States of Guernsey's most significant financial undertakings.
At this time, less than three years into a thirty two year bond, it is not possible to comment definitively on the relative merits of the decision to issue the Guernsey Bond. However, the KPMG report raises certain concerns and questions that do merit additional clarification."
To view the report please go to www.gov.gg/scrutiny
