For the first time in 17 years, the Provincial Auditor General has not issued a clean opinion on the province’s audited financial statements.
The March 31st financial statements released by Finance Minister Roger Melanson on September 30th report a deficit of $388.6 million.
However, Auditor General Kim MacPherson cites major concerns with the financial statements, cautioning the numbers may be misleading and do not accurately present the province’s fiscal situation.
The Auditor General’s concerns are specific to the government’s accounting for Shared Risk Pension Plans. She claims the deficit would have been significantly different had the shared risk pension plans been accounted for following accepted standards.
