Our audit of #BC's 2021/22 summary financial statements resulted in a qualified opinion, indicating that parts of government’s financial statements are not accurate. This is not something to take lightly. 🧵 1/5
A qualified #audit opinion warns users about info they should not rely on. Qualifications like the ones in this report represent errors or omissions the auditor considers so significant that they might mislead a financial statement user. 2/5
Our three areas of concern include: 1) the treatment of payments from government and non-government sources, 2) incomplete disclosures, and 3) lack of transparency and disclosure in a specific commitment and payment. 3/5
Auditor General Michael Pickup is government’s independent auditor and our office is mandated to report whether government’s financial statements are fairly stated in accordance with Generally Accepted Accounting Principles (GAAP). 4/5
Auditor General Michael Pickup: “In my opinion, the government’s method of accounting lacks transparency…” To learn more about our #audit opinion and 3 areas of concern in #BC's summary financial statements, read our news release at oag.bc.ca/media/news-rel… #bcpoli 5/5
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