Tabled in the Alberta Legislature on March 9, 2021, the Report on Post-secondary Institutions 2020 compiles the status of recommendations from the 2020 financial statement audits of the post-secondary institutions. It also includes a report card on each institution’s financial reporting processes and internal controls with comparative assessment from the 2018 and 2019 audits.

In 2020, Auditor General Doug Wylie issued unqualified or “clean” audit opinions on the financial statements of 20 post-secondary institutions noting, “all institutions were able to prepare financial reporting within six weeks subsequent to year-end despite the challenges of the COVID-19 pandemic.”

Four institutions implemented the following outstanding recommendations:

  • Keyano College improved its financial reporting processes
  • MacEwan University strengthened controls supporting key financial and business processes
  • Southern Alberta Institute of Technology improved its network user access controls
  • The University of Calgary improved its internal control program to mitigate key financial risks

“We were pleased to see these four recommendations had been implemented,” said Wylie. “Strong, sustainable processes improve management’s decision-making ability, and provides the board of governors for each institution the information it requires to exercise proper oversight.”

Report highlights
We issued unqualified audit opinions on the 2020 financial statements of the 20 post-secondary institutions we audit.

The report includes three new recommendations to:

  • NorQuest College to implement consistent cloud computing processes related to data security and monitoring of cloud providers’ controls
  • Medicine Hat College to improve its purchasing processes
  • Olds College to improve its financial reporting processes

This is the 10th year the Auditor General has presented a report on post-secondary institutions summarizing the accuracy and timeliness of the preparation of the financial statements, and the status of outstanding recommendations.

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