Skip to main content

Auditor general raises concerns about B.C.'s bookkeeping for 16th time

Share

British Columbia's auditor general is repeating himself over concerns about the way the provincial government keeps its books, just as the Ministry of Finance's quarterly report projects a $5.6-billion deficit.

Michael Pickup says if B.C's financial statements followed Canadian public sector accounting standards there would be about another $7 billion in the revenue column, and liabilities would have dropped by the same amount.

This is the 16th time Pickup's office has “qualified” its audit report, meaning it couldn't say the financial statements were fairly presented.

Pickup says the way the province records money it receives for specific projects is incorrect because instead of counting the cash as revenue as soon as a building is complete, a portion is counted each year across the project's lifetime.

He also says government documents don't disclose all the money it's contractually committed to spend in the future, and they don't include gaming revenues earned and transferred under the BC First Nations Gaming Revenue Sharing Agreement.

Finance Minister Katrine Conroy says the government “respects and appreciates” the auditor's efforts on this issue, but feels it's “doing what every other jurisdiction in Canada is doing.”

This report by The Canadian Press was first published Tuesday, Nov. 28, 2023.

CTVNews.ca Top Stories

Michigan primary: What to watch as 2024 campaign shifts to the first big swing state

Michigan's presidential primary on Tuesday will offer a serious test of U.S. President Joe Biden's ability to navigate dissent within the Democratic Party over his response to Israel's war with Hamas. The leading Republican in the White House race, former president Donald Trump, is looking for another primary win that would add to his sweep of the early-voting states and move him that much closer to becoming his party's nominee.

9 suspects face charges after Quebec organized crime operation

Nine people appeared in court in Quebec City on Saturday as part of a major operation by the Sûreté du Québec to investigate violent conflicts between independent drug dealers and a group of outlaw motorcycle gangs in the east of the province.

Stay Connected