Most of the key findings and recommendations in our November 2021 report speak to the need for good processes and internal controls to measure, monitor and report on organizational activities. Effective internal controls ensure reliable financial reporting, efficient operations and compliance with legislation and policies. In short, they are necessary to demonstrate accountability. Accountability is a cornerstone of public trust.
The Report of the Auditor General—November 2021 includes our audit of the 2020–2021 Consolidated Financial Statements of the Province of Alberta, and the results of three new performance audits and five assessment of implementation reports.
2020–2021 Consolidated Financial Statements of the Province of Alberta
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 Public Sector Accounting Standards.
Our audit of the 2020–2021 Consolidated Statements of the Province of Alberta also focused on key financial risks that, in our professional judgement, were the most significant. We looked at:
- Impact of COVID-19
- Implementation of the government’s new enterprise resource planning system, 1GX (One Government Experience)
- Investment in Keystone XL pipeline
- Government’s contracts with the North West Redwater partnership
- Environmental liabilities
Overall, we found improvements in financial reporting and internal control processes over last year. We did not find any significant misstatements requiring adjustments this year. Our full findings and conclusions on the above risks are outlined in the Key Audit Matters section of the report.
- Alberta Enterprise Corporation: Processes to Report on Value Generation
- Alberta Innovates: Processes to Report on Value Generation
- Alberta Treasury Board and Finance: Travel, Meal and Hospitality Expenses of the Premier, Ministers, and Their Staff
Assessment of Implementation Reports
- Alberta Agriculture and Forestry: Wildfire Management: Processes for Prevention and Review and Improvement
- Alberta Energy Regulator (AER): Systems to Regulate Pipeline Safety and Reliability in Alberta
- Alberta Justice and Solicitor General: Victims of Crime and Public Safety Fund—Systems to Manage Sustainability and Assess Results
- Alberta Treasury Board and Finance: Government of Alberta Capital Planning
- Service Alberta: Contract Management Processes