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The Auditor General of Alberta issued a clean (unqualified) audit opinion on the Province’s Consolidated Financial Statements for the year ended March 31, 2023. This means Albertans can be confident that the financial statements of the province are free of material misstatements and are presented fairly in accordance with public sector accounting standards.

The audit focused on the following three key risks—or those matters that, in the Auditor General’s professional judgement, were of most significance—during the audit. They include environmental liabilities, adoption of the new Public Sector Accounting Standard for Asset Retirement Obligations, and adoption of the new Public Sector Accounting Standards for financial instruments and foreign currency translation.