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On June 21, 2021, we issued an unqualified (clean) audit opinion on the Province’s Consolidated Financial Statements for the year ended March 31, 2021. A clean audit opinion means that we concluded, based on obtaining sufficient and appropriate audit evidence, that the financial statements are free of material misstatements and are presented fairly in accordance with PSAS.

Key Audits Matters

Our audit of the 2020–2021 Consolidated Statements of the Province of Alberta focused on the following key risks—or those matters that, in our professional judgement, were of most significance—during our audit:

  • Impact of COVID-19
  • Implementation of the new enterprise resource planning system, called 1GX. This is an integrated system that manages various business processes, such as human resources and payroll, procurement, capital asset management, financial transactions and financial reporting.
  • Investment in the Keystone XL pipeline
  • Government’s contracts with the North West Redwater Partnership
  • Environmental liabilities

The communication of key audit matters does not alter in any way our opinion about the consolidated financial statements, taken as a whole, and we are not, by communicating the key audit matters below, providing separate opinions about the key audit matters or the accounts or disclosures to which they relate.