Auditor General releases annual report on financial statement audits

WINNIPEG – Auditor General Tyson Shtykalo today released the report, Public Accounts and Other Financial Statement Audits, summarizing his office’s 2024/25 financial statement audit work.

For the first time since 2017, the Auditor General this year issued an unqualified opinion on the Province of Manitoba’s Summary Financial Statements.

“This clean opinion reflects improvements in Manitoba’s financial reporting processes,” said Shtykalo. “It means the Public Accounts fairly present the Province’s financial position and activities for the year, in accordance with Canadian Public Sector Accounting Standards.”

While progress was evident, the report notes that control deficiencies remain, contributing to accounting errors that must be corrected during the audit process. “Addressing these issues is essential to improving timeliness and reliability of financial reporting,” Shtykalo said.

The report also highlights:

·         Manitoba’s share of a tobacco settlement, which resulted in recognition of $846 million in revenue.

·         Steps the Province has taken to improve audit readiness.

·         Challenges ahead, including Enterprise Resource Planning system modernization and new accounting standards.

Shtykalo emphasized the importance of continued improvement: “The Province has made meaningful progress, but sustained effort is needed to strengthen internal controls, reduce errors, and prepare for major system and standards changes.”

For further information:

·         Read the report

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