Auditor General Tyson Shtykalo says the Province of Manitoba needs to improve how it prepares financial information for audit after repeated issues were identified in financial statement audits of the Public Accounts.
In a new report, Shtykalo makes 18 recommendations to strengthen the Province’s financial reporting processes, including planning, oversight, recordkeeping, and staff training.
“While the Province has taken steps to improve the accuracy, timeliness, and reliability of the financial information presented for audit, more work is needed,” Shtykalo said.
For several years, the Auditor General has identified an increasing number of errors in financial information prepared by the Province and presented for audit. The Province has had to correct these errors and other issues identified during the audits. This has resulted in additional audit work and delays in releasing the Public Accounts.
To determine the causes of these recurring errors, Shtykalo launched this performance audit. The audit found weaknesses in financial reporting processes, including poor recordkeeping, insufficient communication and training, a lack of formal departmental review, and inadequate review by the Office of the Provincial Comptroller.
“The preparation of the Public Accounts is inherently complex and requires a coordinated effort across government,” Shtykalo said. “Reducing the number of errors in the information presented to us for auditing will require sustained focus from both the Office of the Provincial Comptroller and government departments.”
The Public Accounts provide an overview of the Province’s financial position and results.
To read the full report, visit oag.mb.ca.
