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FICOM Staff Shortage Handicaps Oversight of B.C. Credit Unions, Auditor General Says

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B.C.’s auditor general has warned the province’s oversight agency for credit unions is handicapped by an acute staff shortage.

On Thursday, Auditor General Carol Bellringer released an audit saying that despite repeated efforts a staff shortage continues to plague the Financial Institutions Commission, often called FICOM.

The key problem, the report says, is the commission’s inability to offer competitive salaries for auditors due to government pay-scale limits. FICOM operates under the provincial Ministry of Finance.

Read full article here.

Chiang, Chuck – The Province – July 28, 2016.

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