The Auditor General today released her annual report, confirming that the Government of Newfoundland and Labrador received an unqualified (clean) audit opinion on the 2023-24 Public Accounts which are the audited financial statements of the province for the fiscal year that ended March 31, 2024.

In her report, the Auditor General provides a comprehensive review of areas for improvement within the Provincial Government and its entities. These recommendations are welcomed and will now be reviewed in their entirety, with the aim of making changes that are necessary for the province’s financial health.

The Provincial Government, through the Office of Comptroller General, maintains a working relationship with the Office of the Auditor General throughout the year and has modernized financial management practices based on advice given. This includes improvements to the reporting and classification of tangible capital assets and inventory management, more timely accounts payable and bank reconciliations, a review of outstanding accounts receivable to identify accounts for write-off, and reinforcement of government’s fraud management policy with related entities.

Over the past few years, the Provincial Government has substantially increased funding to the Office of the Auditor General and strengthened its legislation to provide greater oversight.

Quote
“We appreciate the recommendations of the Auditor General and her team as we deliver upon our plan for financial improvement. We are all working together on a stronger, smarter, self-sufficient, sustainable province.”
Honourable Siobhan Coady
Deputy Premier
Minister of Finance and President of Treasury Board

-30-

Learn more
All Reports – Office of the Auditor General

Provincial Government Releases 2023-24 Public Accounts