The Court of Auditors is conveying to Congress its suspicions about CEO bonuses and contract bonuses

Author: Marta Fernandez Jara | EUROPAPRESS

Irregular benefits were found to have been paid to positions in public companies such as Enaire, Tragsa, SEPI or CDTI

President of the association Court of Accounts, Enriqueta Chicanowill explain this week in Congress two damning reports ineffectiveness of bonuses for permanent contracts and salaries in kind to managers in the public sector outside their contract are detected.

On the one hand, on Tuesday, Chicano will present a report to the Joint Commission (Congress-Senate) on the system of rewarding and appointing, i.e. contracting state bodies of entities of the non-financial state business sector in 2018, and there were also revealed salaries not related to their contracts between directors of public companies such as Enaire, Tragsa, SEPI or CDTI.

In its supervision, the body called on these subjects to indicate the flexible or natural salary, its concepts and amounts in the contracts of their executives, and to submit this information to the Register of Managers in the Public Sector.

And he condemned that Enaire paid its directors health, life and accident insurance that was not specified in their contractsas in Tragsa or CDTI, which also included in its variable fees a meal check, exceeding the maximum compensation for its managers. Nor did the variable allowance on the payroll of SEPI managers correspond to what was established for executive contracts.

In addition, he appealed for a reduction in the position allowance from those in-kind benefits, if any, since that additional variable was conditional on meeting targets.

Another report, concerning Quota bonuses for conversion to open-ended traineeship, assistance and exchange contracts on the eve of retirement in 2018 and 2019, it consisted of evaluating the effectiveness of these bonuses, and the conclusion is that the system is only “relatively efficient”.

Among the documents, the Court of Auditors found the absence of reports or continuous evaluation of active employment policies supporting the design of the stated bonus quota for the conversion of open-ended contracts.

In addition, the Court condemned that there was no strategic plan in which indicators, ratios or standards were defined to assess the effectiveness, efficiency and impact of these bonuses on achieving their goals, nor in the explanation of the amount determined for the bonus in the case of contracts for men (500 euros per year ) and women (700 euros per year).

Source: La Vozde Galicia

Jason

Jason

I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people's lives. I also write about current trends in economics, business strategies and investments.

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