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This report is based on the findings from our most recent financial statements audits of Grant MacEwan University, Mount Royal University, Northern Alberta Institute of Technology, Southern Alberta Institute of Technology and all public colleges. Our November 2011 Report (page 63) included the results from our audits of Athabasca University, University of Alberta, University of Calgary and University of Lethbridge.

All 21 public post-secondary institutions spend $4.5 billion annually to educate Albertans and help build a knowledge-based economy. When institutions lack proper financial controls, they may not achieve their goals cost-effectively, in which case Albertans would not be getting proper value for their money.