Auditor General, Heather Jacobs Matthews said financial statements due to be made public shortly will "reveal the challenges our Country currently faces".

Since her appointment on September 1, Mrs. Jacobs Matthews has been completing an audit of the Government's 2008/2009 Consolidated Fund financial statements.

The process was already underway when she took over the reigns of Bermuda's independent financial watchdog, the Office of the Auditor General. The audit has since been completed and will soon be tabled at the House of Assembly

On Tuesday, in her first public statement since taking on the role, she said: "The financial statements themselves will reveal the challenges our Country currently faces."

She added: "An important part of my role is to provide through reports to Parliament, an independent assessment as to whether Government's resources are being managed economically, efficiently and effectively.

"This is the accountability chain that links Parliament, Ministers, Departments and the public they serve."

But Mrs. Jacobs Matthews also acknowledged that her job may not be plain sailing. Her predecessor, Larry Dennis, was often criticised by the Government and at one point arrested.

"It is fair to say that I do not expect my role to be an easy one and I anticipate that, from time to time, there will be criticism," she said.

"However, my primary focus will be on the financial health of our Country. As such, I will do my very best to promote sound management of the public purse — your money — and encourage the Government and its organisations to do the same.

Mrs. Jacobs Matthews added that she planned to make a submission to Parliament's Standing Committee on the Office of the Auditor General outlining the plan for audits in the coming year and the resources she will need to carry them out.

Over the coming nine months she plans on meeting all MPs, permanent secretaries and heads of departments.

On Monday in the Senate, it was revealed that Government suffered a $100 million shortfall in its finances in the last financial year after underestimating how much it would spend and overestimating how much it would raise.