SOAB; The Naked Emperor
January 13, 2024
SOAB, short for Stichting Overheidsaccountantsbureau, was established in 1994 as part of a broader neoliberal reform movement to place executive functions at arm’s length from the core government. Designed as a foundation, its primary mandate was to act as the government's internal auditor, ensuring financial accountability and transparency.
In its early days, SOAB lacked a local frame of reference and adopted the practices of the "Big Six" accounting firms as its benchmark. This was a critical turning point, as it set the stage for a relentless pursuit of growth. Like many large firms, SOAB began expanding its scope beyond core auditing services. Over time, it ventured into organizational consulting, recruitment, training, and any other service that could be monetized. The drive for growth became its defining characteristic.
Fast forward to today, and only one of the original Big Six accounting firms remains on the island. KPMG, the last to exit, was infamous for monopolizing government contracts and, over time, became em-broiled in numerous scandals that tarnished its reputation. SOAB appears to be following a similar trajectory. It has grown significantly, moving into an expensive building on the same road where KPMG once operated. However, its current projects have little to do with the original purpose of government auditing.
SOAB’s recent activities highlight a concerning trend of goal displacement. For example, the organization has taken on tasks such as drafting and monitoring government programs—a role far removed from its auditing roots. Another glaring example is SOAB’s involvement in investigating the mishandling of a national competition to design a new emblem for Curaçao. Despite considerable delays, the resulting report remains inaccessible to the public, likely at the government’s request. This raises serious questions about transparency and independence.
Meanwhile, SOAB’s financial arrangements with the government are puzzling. The government continues to pay high hourly rates to deploy SOAB staff into its apparatus, yet it has never managed to pro-duce an approved set of financial statements. This undermines the core purpose of SOAB and points to systemic inefficiencies.
Adding to the pattern of overreach, SOAB has now launched a Government Academy. While capacity building is important, this new initiative underscores the extent to which SOAB has strayed from its original mission. Instead of focusing on its core mandate of ensuring fiscal accountability, it is branching out into areas that dilute its focus and raise questions about its effectiveness.
The Naked Emperor. Like the proverbial emperor with no clothes, SOAB has lost sight of its purpose. It has grown into a sprawling entity that prioritizes expansion over effectiveness. The parallels with KPMG’s rise and fall are striking. Without meaningful reform, SOAB risks becoming another cautionary tale of an institution that outgrew its mandate and lost its way.
For SOAB to regain its credibility, it must refocus on its core mission: ensuring the financial accountability of the government. This requires a commitment to transparency, independence, and tangible results. Anything less will leave SOAB as just another symbol of mis-placed priorities and squandered potential.
Miguel Goede
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