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28th July 2008 for the full story at the Royal Gazette, click here.

$485,000,000 of 'missing public funds ...

The Royal Gazette has revealed another damning Auditor General's report, the exposure of Government financial mismanagement to include:

• $485 million in public spending unaccounted.   
• nearly $50 million in taxes and pension payments from companies uncollected
• failure among senior officers to provide audited financial statements and information in a timely manner.

The Auditor General apparently believes top management aren't being held accountable for anything and that Bermuda requires good Government, honest and fair.

Does anyone care?  It appears not, or at least not just yet - how long will it be before those unpaid premiums do affect 'Joe Public' and there is an outcry?  Likely it will all come too late and the Auditor General will be able to do little more than say 'I told you so'.

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