Bermuda College Amendment Act 2022

What this bill does

This bill changes how Bermuda College chooses its financial auditor. Instead of the government's Auditor-General automatically handling the college's financial reviews, the college's Board of Directors will now select and hire their own professional accountant to audit the books.

If passed (voted YES)

• Bermuda College's Board will choose their own auditor (with government approval) rather than using the government's auditor
• The auditor must be a qualified chartered professional accountant licensed in Bermuda
• The auditor will report their findings directly to the college Board instead of to the government Minister

If rejected (voted NO)

• The current system continues where the government's Auditor-General handles or assigns someone to audit Bermuda College's finances
• The Auditor-General would continue reporting audit results directly to the government Minister
• The college Board would have no role in selecting who audits their financial records

Who it affects

This primarily affects Bermuda College's Board of Directors, who gain more control over their financial oversight, and the government's Auditor-General, whose role in college auditing would be reduced to a consulting capacity.