AG finds employee compensation issues and the misuse of public money during an audit on the Oil and gas Corporation

    Thursday, 13 June 2024 07:00

    By Tonya Organ

    Denise Hanrahan says the report also identified several areas of concern around operating expense and oversight processes.

    Auditor General, Denise Hanrahan, delivered a performance audit report on the Oil and Gas Corporation (OilCo) to the House of Assembly yesterday. Hanrahan says the  report concluded that OilCo did not manage employee compensation in accordance with government direction, and did not ensure the best possible use of public money. She says the report also identified several areas of concern around operating expense and oversight processes. Hanrahan says the report comes with recommendations. She says “ OilCo’s refusal to align its employee compensation and benefits policies and practices with government whenever possible, has meant the corporation has incurred unnecessary and excess expenses.”  The Auditor General issued two performance audits on Nalcor Energy in 2022 - the first focused on discretionary expenses, conflict of interest, and embedded contractors; the second focused on employee compensation. However, because OilCo was not a separate entity at the time of the Nalcor audits, a separate audit was necessary to assess the new organization against the same audit areas. The full report as well as an audit overview can be found by visiting. www.ag.gov.nl.ca.

     

     

    To report an error, submit a news tip, or provide feedback, please e-mail news@bayfm.ca or call (709) 637-0183.

    More from Local News

     

     

     

    BayFM recognizes support from the following agencies:

                        

    Today's Weather

    • Corner Brook

      Sleet

      High: 2°C | Low: -7°C

    • Deer Lake

      Light snow

      High: 4°C | Low: -8°C

    Podcasts

    • BayFM On-Demand

      Corner Brook Mayor Jim Parsons on Bay Fm

      Corner Brook Mayor Jim Parsons on Bay Fm, Tuesday March 11, 2025

    • Corner Brook In Council

      Corner Brook City Council, March 10 2025

      Corner Brook City Council, March 10 2025

    • The Night Show

      The Late Night Show, Friday March 7, 2025

      The Late Night Show, Friday March 7, 2025