SUPREME AUDIT AND SUPERVISIORY INSTITUTIONS PUBLIC SECTOR (ARC, SOAB, Cft)
The institutions and the Executive should ensure sufficient capacity to conduct timely financial audits of Curaçao’s annual account to allow for a timely discharge of the Executive. The Executive and public entities must ensure full and timely access to all information necessary for effective audits. The supreme audit and supervisory institutions (public sector) should introduce regular audits of public expenditures of public officeholders, such as ministers, in order to prevent (the perception of) victimisation and ‘witch hunts’. SOAB should publish all (non-confidential) audit reports and account for those in more detail in the annual report. The annual report should include a list of all reports produced, and justifications for the non-disclosure of confidential reports. The supreme audit and supervisory institutions (public sector) should increase efforts to improve transparency regarding their internal governance, including existing integrity provisions and their implementation in practice and the publication of additional functions and activities of board members.
SUPERVISION PRIVATE SECTOR (CBCS, GCB, MOT)
Government and Parliament should ensure independent supervision of the lottery sector, including adequate investigative and sanctioning powers. The board of the GCB should be supplemented with the additional three required members, and the Central Bank of Curaçao and Sint Maarten and the Chamber of Commerce must recommend their candidates for the board. Government or the Executive is to ensure that the board of the GCB adapts its charter to comply with the corporate governance code. The governance provisions for CBCS’s board of directors and the supervisory board in the Bank’s charter should be reviewed to strengthen accountability provisions and to ensure a balanced composition of the supervisory board with a sufficient number of members with relevant expertise in finance and economics. All three institutions should increase their efforts to ensure greater transparency in: (a) the use of supervisory powers and the effectiveness of supervisory activities, including sanction regimes, and (b) internal governance mechanisms, including existing integrity provisions and their implementation in practice, and the publication of additional functions and activities of board members.
POLITICAL PARTIES
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As a matter of urgency, government and Parliament must adapt the country ordinance Finances political parties (Landsverordening Financiën politieke partijen) to correct the current legislative loopholes and ambiguities governing political finance in the country in accordance with the United Nations Convention against Corruption (Article 7, paragraph 3). Political parties must submit annual reports, annual accounts and gift registers to the Supreme Electoral Council as legally required and should make annual reports, annual accounts, gift registers and internal governance mechanisms and regulations available on political-party websites. Political parties should review internal regulations and practice to further the principles of anticorruption and good governance within the political party and its elected and appointed members.
NATIONAL INTEGRITY SYSTEM ASSESSMENT CURAÇAO