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Financial audit process
Below are primary steps of the financial audit process:
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Financial audits
Financial audits are the majority of our activity. Financial audits can state whether an organization’s financial statements are fairly presented and free of material misstatements (significant errors). We also audit other financial information, such as compliance with federal agreements. Financial audits are conducted in accordance with Canadian generally accepted auditing standards (GAAS). We audit financial…
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Fraud Risk and Financial Statements: B.C. Public Sector, Part 1
We sent a questionnaire to 23 Crown organizations, post-secondary institutions, school districts, health authorities and associations, to understand how they perceive and manage the risk of fraud. This information will help our auditors plan our annual audit of the Province’s summary financial statements — the largest financial statement audit in B.C.
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Report on the Financial Audit Work: Fiscal Year 2021/22
This report shares a behind-the-scenes look at this year’s audit of the government’s summary financial statements. In it, you’ll find out more about the significant errors or omissions that led to a qualified independent auditor’s report and learn more about key issues like COVID-19 benefit programs and rising disaster-related costs.
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Financial Statement Audit Coverage Plan for fiscal years ending in 2023, 2024 and 2025
This plan is our annual plan for auditing the financial statements of more than 140 public-sector organizations included as part of the massive audit of government’s summary financial statements. It includes central government, Crown corporations, universities, colleges, school districts, health authorities and similar entities controlled by or accountable to the provincial government. The Financial Statement Audit Coverage…
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Report on Financial Audit Work for the 2019/20 Fiscal Year
This report explains our qualified audit opinion on government’s 2019/20 summary financial statements and includes other interesting matters such as Fortis BC’s interest in a power project and the estimated cost of environmental cleanup of contaminated sites.
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Financial Statement Audit Coverage Plan for fiscal years ending in 2022, 2023 and 2024
Our annual audit of government’s summary financial statements is the largest financial audit in B.C. It encompasses central government plus over 140 other government organizations, including Crown corporations, universities, colleges, school districts, health authorities and similar entities that are controlled by or accountable to the provincial government. This Financial Statement Audit Coverage Plan outlines how we…
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Financial Statement Audit Coverage Plan – Fiscal Years ending in 2021, 2022 and 2023
My office’s annual audit of government’s Summary Financial Statements is the largest financial audit in B.C. It encompasses central government plus over 140 other government organizations, including Crown corporations, universities, colleges, school districts, health authorities and similar entities that are controlled by or accountable to the provincial government. This Financial Statement Audit Coverage Plan outlines how…
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Improving Financial Reporting for British Columbians: Report on the 2006/07 Public Accounts
An annual report to inform legislators and the public about the Auditor General’s opinion of government’s Summary Financial Statements.
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Seeking Best Practices in Financial Reporting: Report on the Province’s 2005/06 Public Accounts
An annual report to inform legislators and the public about the Auditor General’s opinion of government’s Summary Financial Statements.