The Importance of Transparency and Excellence in Annual Reporting – Lynn Pamment CBE

This week marks the 20^th anniversary of the Jersey Audit Office.  The core purpose of the Office is to provide independent assurance to the people of Jersey on the extent to which public money is spent economically, efficiently and effectively and on whether the controls and governance arrangements in place within public bodies demonstrate value for money.

I am the third Comptroller and Auditor General for Jersey and since I took up my appointment at the beginning of 2020 I have championed a subject that lies at the very heart of good governance and public trust in the States of Jersey and in States owned and States established entities: the critical importance of transparency in annual reporting by these entities.

Every year since 2020 the Jersey Audit Office has reviewed the annual reports of around 40 entities against best practice criteria we have established and developed.  This year we reviewed the 2024 annual reports of 43 entities (listed below).

Back in 2020 we judged just six of the 40 2019 annual reports reviewed to be ‘fair’ with none judged as ‘good’ and the remainder judged as ‘poor’ or ‘very poor’.  In each year since we have seen improvements with more and more entities taking on board our recommended practices.  This year, 28 out of the 43 2024 annual reports reviewed were judged to be ‘good’ or ‘fair’ against criteria updated to emphasise the importance of holistic reporting including sustainability reporting.

But why is transparency in annual reporting important?

The States of Jersey, States owned and States established entities exist to serve the interests of Islanders. These entities own and manage resources that belong not to themselves, but ultimately belong to Islanders. In my view it is, therefore, both a privilege and a duty for these entities to be held to the highest standards of openness and accountability. Transparency in annual reporting is the cornerstone of this responsibility.

First and foremost, transparency in annual reporting is essential for building and maintaining public trust. Each year, the entities we have reviewed are entrusted with significant sums of money from Islanders whether that be through taxation, government grants and contracts or charging citizens for the delivery of vital services. When entities report in a fair, balanced and understandable way on their finances, activities, and outcomes, they demonstrate respect for the people they serve and foster a culture of trust. Islanders are more likely to have confidence in entities that are forthcoming about their successes, challenges, and use of resources.

In overall terms, all very large entities (with annual expenditure in excess of £100 million) and all large entities (with annual expenditure between £10 million and £100 million) are now producing reports that we judge to be ‘good’ or ‘fair’.  In addition, 80% of the medium sized entities reviewed (those with annual expenditure between £1 million and £10 million) produced reports that we judged to be ‘good’ or ‘fair’.

We continue to find that some small entities (with annual expenditure of up to £1 million) have the most opportunities to improve the transparency of the annual reports that they publish.  We encourage these entities to engage more actively with the Jersey Audit Office.  We have seen improvements in the reporting by those entities who have engaged with us and are here to support all entities seeking improvements.

The best annual reports present information on an entity’s performance, its accountability and its finances in a transparent and understandable way.  For smaller entities seeking to improve it is in the areas of sustainability reporting, accountability reporting and financial reporting that we see most opportunities for improvement.

For all entities however transparency is not merely about publishing facts and figures. It is about enabling accountability. Annual reports at their best provide a structured, accessible means for the public, the media, and oversight bodies to scrutinise performance. They offer insight into how money is being spent, and into the contribution the entity is making to Island outcomes. This scrutiny is not a threat; rather, it is a vital mechanism for improvement and demonstrating integrity.

To mark the 20^th anniversary of the Jersey Audit Office and to recognise the improvements we have seen in the transparency and excellence of annual reports, we have today issued awards in eight categories:

• Most Improved Annual Report 
  • Winner: Jersey Care Commission
  • Runners up: Jersey Competition Regulatory Authority, JT

• Most Accessible & Engaging Annual Report
  • Winner: Jersey Competition Regulatory Authority
  • Runners up: Jersey Electricity, JT

• Best Remuneration & Staff Reporting (Small/Medium Entities)
  • Winner: Jersey Development Company
  • Runners up: Digital Jersey, Jersey Office of the Information Commissioner
• Best Remuneration & Staff Reporting (Large Entities)
  • Winner: States of Jersey
  • Runners up: Jersey Electricity, Ports of Jersey
• Best Sustainability Reporting
  • Winner: JT
  • Runners up: Jersey Development Company, Jersey Electricity, Ports of Jersey
• Going Above & Beyond in Annual Reporting
  • Winner: Jersey Advisory and Conciliation Service
  • Runner up: Jersey Resolution Authority
• Best Annual Report (Small/Medium) 
  • Winner: Jersey Development Company
  • Runners up: Jersey Care Commission, Jersey Competition Regulatory Authority
• Best Annual Report (Large)
  • Winner: Jersey Water
  • Runners up: JT, States of Jersey.

High quality transparent annual reporting creates a foundation for informed public debate and decision-making. When data and outcomes are clearly presented, citizens, advocacy groups, and policymakers can engage in meaningful discussions about priorities, trade-offs, and the direction of public policy.

When entities report openly on their performance, they create benchmarks that can be compared across organisations and over time. This competitive tension encourages innovation, the sharing of best practices, and the identification of areas for improvement both in efficiency and in the overall delivery of value for money.

When annual reports are accessible and understandable, Islanders are empowered to ask questions, provide feedback, and are better placed to contribute to shaping future priorities.

In conclusion, transparency in annual reporting is not a bureaucratic exercise. It is a vital practice that underpins public trust, accountability, efficiency, compliance, and engagement. It is the means by which the States of Jersey, States owned entities and States established entities demonstrate their commitment to and success in serving the public interest.

Lynn Pamment CBE
Comptroller and Auditor General

2024 Annual Reports Reviewed

1. Andium Homes
2. Appointments Commission
3. Bank Depositors Compensation Scheme
4. Care Commission
5. Channel Islands Financial Services Ombudsman
6. Charity Commissioner
7. Charity Tribunal
8. Complaints Panel
9. Criminal Injuries Compensation Board
10. Digital Jersey
11. Director of Civil Aviation
12. Employment and Discrimination Tribunal
13. Financial Services Commission
14. Gambling Commission
15. Independent Prison Monitoring Board
16. Jersey Advisory and Conciliation Service
17. Jersey Business
18. Jersey Competition Regulatory Authority
19. Jersey Development Company
20. Jersey Electricity
21. Jersey Finance
22. Jersey Post
23. Jersey Sport
24. Jersey Teachers’ Superannuation Fund
25. Jersey Water
26. JT
27. Office of the Children’s Commissioner
28. Office of the Comptroller and Auditor General
29. Office of the Information Commissioner
30. Overseas Aid Commission
31. Pan Islands Commissioner for Standards
32. Police Complaints Authority
33. Ports of Jersey
34. Prison Service
35. Public Employees Pension Fund
36. Resolution Authority
37. Safety Council
38. States Assembly
39. States Employment Board
40. States of Jersey
41. States of Jersey Police
42. Statistics Jersey
43. Visit Jersey

Download the Good Practice Guide to Annual Reporting Good Practice Guide to Annual Reporting

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