This report provides an overview of the financial statement audit work the Auditor General conducted in 2023/24. It also highlights several areas of concern, including issues that impacted the preparation of the Public Accounts.
This was the seventh year in a row the Auditor General issued a qualified audit opinion on the Province of Manitoba’s Summary Financial Statements. The Summary Financial Statements are the consolidated financial statements of the Province of Manitoba, sometimes referred to as the Public Accounts. A qualification is a warning to users of the financial statements that there is information that could not be audited and therefore may not be reliable.
The report also notes the Auditor General identified significant weaknesses in financial statement preparation and the control environment. The control environment is the set of financial standards, processes, and structures along with attitudes and competencies that provide the basis for carrying out internal financial controls.
Many of the issues related to processes the Province used to consolidate financial information from departments and other entities in the public sector into the Summary Financial Statements.
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