Marking One Year of Leadership at the Gibraltar Audit Office

Today marks the first anniversary of Phil Sharman’s appointment as Principal Auditor of Gibraltar — an important milestone defined by clear leadership, firm direction, and a renewed commitment to strengthening confidence in public financial oversight. Commenting on this milestone Phil said:

“The institution of Principal Auditor and the professional and dedicated team at the Gibraltar Audit Office represent a precious public asset. In the first year of my appointment term, I have consulted with key stakeholders and designed a strategy to guide us forward. The next steps are all about implementation in partnership with Government.”

Over the past 12 months, Phil has led a pivotal shift in the strategic direction of the Gibraltar Audit Office (GAO), culminating in the publication of a transformational Strategy for Audit Reform (March 2026).

At its core, the Strategy sets out an ambitious but practical roadmap to restore timely financial accountability, strengthen public confidence, and modernise Gibraltar’s audit framework in line with international standards. It directly addresses one of the most pressing challenges facing public accountability in Gibraltar: the significant backlog of unaudited public accounts, which currently poses risks to financial transparency, parliamentary scrutiny, and external credibility.

A Three-Pillar Plan for Audit Reform

The Strategy is built around a focused and deliverable programme:

• Institutional Reform & Capacity Building
  Modernising audit legislation, adopting international standards, and investing in skills and systems to position the GAO as a fully independent, professional audit institution.
• Clearing the Reporting Backlog
  A targeted programme to audit outstanding financial years from 2019/21 to 2024/25, with the aim of bringing accounts up to date by June 2028, thereby restoring the accountability cycle and enabling timely scrutiny.
• Implementation & Delivery
  Close collaboration with Government, Parliament, and key stakeholders to ensure sustainable and lasting reform.

By introducing international audit and financial reporting standards, strengthening internal capacity, and restoring the audit cycle, the Strategy lays the foundation for a transparent, accountable, and internationally credible framework for public financial governance. It sets out a clear path to delivering up-to-date audited accounts and repositioning Gibraltar’s audit system as a modern, independent, and internationally compliant framework.

Commenting on the Strategy, the Principal Auditor noted: “This represents a once-in-a-generation opportunity to modernise public audit in Gibraltar and strengthen confidence in public financial reporting and accountability.”