In his last independent review before retiring, BC’s Auditor-General Michael Pickup is again pointing out significant errors in the provincial government’s financial reporting.
Pickup says the errors relate to how the province accounts for deferred revenues, and how it discloses certain contracts.
In the first case, the province’s improper accounting for received funds, including from the federal government, resulted in revenues being understated by nearly $7.7 billion dollars. This error has been reported by four different auditor-generals since 2012.
In the second case, the province has understated its contractual obligations by $5.7 billion dollars. That could have financial implications in the future, Pickup says.
On the plus side, he points out the province’s reporting is improving, a trend he hopes to see continue in the future.
Pickup will be retiring from his role in November.
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