Summary
This Report of the Auditor General includes an annual summary of the recommendations of the Auditor General of Alberta since November 2024, the Audit of the 2024–2025 Consolidated Financial Statements of the Province of Alberta, an Annual Summary of Ministry Audit Work, and a Summary of the 2024 Financial Audit Results of School Jurisdictions in Alberta.
Audit of the 2024–2025 Consolidated Financial Statements of the Province of Alberta
The Auditor General of Alberta issued a clean audit opinion on the Province’s Consolidated Financial Statements for the year ended March 31, 2025.
The audit focused on several areas focused on several areas that required significant attention due to their complexity, estimation uncertainty, or importance to the financial statements. These are referred to as key audit matters (KAMs). These included accounting for:
- environmental liabilities
- pension liabilities
- private equities, inflation-sensitive investments, and alternative investments
- Investments in and toll commitments related to the North West Redwater Partnership (NWRP)
- personal income tax revenue
Annual Summary of Ministry Audit Work
During the audit, we issued three new recommendations and repeated one recommendation.
New Recommendations
- Improve financial statement preparation processes for improvement districts (Municipal Affairs)
- Improve grant management processes Meet reporting requirements for activities under the Civil Forfeiture Act (Public Safety and Emergency Services)
- Improve information technology controls (Alberta Innovates)
Repeated Recommendations
- Improve financial information preparation and reporting processes (Public Safety and Emergency Services)
Summary of the 2024 Financial Audit Results of School Jurisdictions in Alberta
This report summarizes the results of our review of audits conducted by independent auditors for all school jurisdictions in Alberta, as required under Section 19(4) of the Auditor General Act. The purpose of summarizing the recommendations made to school jurisdictions is to identify trends across the sector.