Completed

Way Forward Commitment:

As we continue to increase financial accountability and adopt best practices in governance and financial reporting, our Government will expand the role and composition of the Government-wide Audit Committee. This includes implementing changes to the current committee to allow for external membership, as recommended by the Auditor General. The purpose of the Audit Committee is to foster a positive and effective internal control environment by monitoring and reporting on matters related to financial reporting, governance, and efficiency and effectiveness of provincial programs. In 2017-18, our Government will appoint external members to the Government-wide Audit Committee and the Committee will begin working on their expanded role.

What We’ve Accomplished:

• In 2017-18, the Government-wide audit committee was established with external membership participation.
• The committee has been a strong advocate for the internal audit function and has been active in reviewing the progress of the government-wide fraud management program. The committee played an active role in the Province’s financial reporting by reviewing the Public Accounts with the Auditor General and Comptroller General.