The Utilities Regulation and Competition Authority (URCA) announces the publication of the Audit Committee’s Special Performance Report for the year ended 31 December 2024, in accordance with its statutory obligations under Section 33 of the URCA Act, 2009.

This marks the 10th report presented by URCA’s Audit Committee to the Board. The report provides a comprehensive account of the Committee’s activities during the reporting period, consistent with its responsibility to oversee financial reporting, internal control processes, risk management practices, and compliance with statutory and regulatory obligations.

The Committee is comprised of independent and non-executive members of URCA’s Board, along with the General Counsel serving ex officio as Secretary. It is supported by URCA’s financial officers, internal auditors, and, where necessary, the Chief Executive Officer.

The Audit Committee Special Performance Report (2024) details URCA’s performance against its 2024 Annual Plan and assesses the extent to which the deployment of financial resources delivered value for money for stakeholders, including the public, licensees, and the Government of The Bahamas.

In compliance with statutory requirements, the report was formally submitted on 24 September 2025 and is now published on URCA’s website at www.urcabahamas.bs.

The report can be found here: URCA Audit Committee Special Performance Report for 2024 – The Utilities Regulation and Competition Authority (URCA)