Significant errors persist in provincial financial reporting, says independent auditor

Rubriques :

In his last independent review before retiring, BC’s Auditor-General Michael Pickup is again pointing out significant errors in the provincial government’s financial reporting. Pickup says the errors relate to how the province accounts for deferred revenues, and how it discloses certain contracts. In the first case, the province’s improper accounting for received funds, including from the federal government, resulted in revenues being understated by nearly $7.7 billion dollars. This error has been reported by four different auditor-generals since 2012. In the second case, the province has understated its contractual obligations by $5.7 billion dollars. That could have financial implications in the future, Pickup says. On the plus side, he points out the province’s reporting is improving, a trend he hopes to see continue in the future. Pickup will be retiring from his role in November. The post Significant errors persist in provincial financial reporting, says independent auditor appeared first on My Cowichan Valley Now.

Rubriques :

Significant errors persist in provincial financial reporting, says independent auditor

Articles similaires

"A Dramatic Shift": Provincial Fund Now The Biggest Buyer In BC's Multi-Family Market

"A Dramatic Shift": Provincial Fund Now The Biggest Buyer In BC's Multi-Family Market

Prisoner advocacy group calls on Nova Scotia to launch independent review of jails

Prisoner advocacy group calls on Nova Scotia to launch independent review of jails

UNC calls on Procurement Regulator for answers: Who received $5 billion in contracts

Bình Dương Province exports boom

Financial pressures difficult, but not the time for service, support cuts, says Eby

$4.5 billion since 2019, growing by 17 percent on average

$4.5 billion since 2019, growing by 17 percent on average

“We have not hit the bottom yet:” Jasper council asks province for budget funding

Les derniers communiqués