2006 Report on the Audit of the Financial Statements of the Province

Disclaimer
The printed version of the document stands as the official record. The Office of the Auditor General assumes no responsibility for any discrepancies that may have been transmitted with the electronic version.

Note: The contents of this report must be viewed using Adobe Acrobat Reader 7.0 or higher. If you do not have this viewer, please download a free version by clicking here.

TABLE OF CONTENTS

Inside Cover

Letter of Transmittal

Foreword

Entire Report on the Audit of the Financial Statements of the Province (686 KB)

 

Chapter 
 
  

Part

Page

1

 

Reflections of the Auditor General

 

  1
2 Public Accounts    
Introduction 2.1 7
What are the Public Accounts? 2.2 7
Who Prepares Them? 2.3 7
Why are they Prepared? 2.4 7
What are the Public Accounts “Volumes”? 2.5 8
What Statements are Included and what do they Show? 2.6 9
What Accounting Policies does Government Follow? 2.7 11
Who Audits the Public Accounts? 2.8 12
Why are they Audited? 2.9 12
What does the Auditor’s Report Show? 2.10 13
  How do our Financial Statements Compare to
  other Jurisdictions?

 

2.11

 

14

 

3 Financial Condition of the Province    
  Introduction 3.1 15
  Key Balances in the Public Accounts 3.2 15
  The Financial Condition of the Province 3.3 17
 

 

Financial Indicators - Interpreting the
  Financial Information

 

3.4

 

21

 

4 Comments on Selected Financial Information    
Retirement Benefits - Pensions 4.1 37
Retirement Benefits - Other than Pensions 4.2 45
 

 

Debt 4.3 48
5 Comments on Government’s Financial Reporting    
Introduction 5.1 59
Reporting under the Transparency and Accountability Act 5.2 59
  Internal Audit 5.3 61
Government Reporting Entity 5.4 62
Environmental Liabilities 5.5 62
Periodic Financial Statements 5.6 64
Basis of Accounting for Federal Revenues 5.7 65