What does the Office’s Annual Report tell you?

The Annual Report explains what the Office achieved during the last fiscal year. These achievements are measured against the performance expectations previously set out in February 2005 (contained in the 2005/06 Service Plan).

Why is this report important?

Our Annual Report provides a primary means of holding the Office accountable. It is a report tabled in the Legislative Assembly and is available to the public either through our website at www.bcauditor.com or by contacting our Office for a printed copy.

We expect government ministries and organizations to report comprehensively on their performance and our Office should be no exception to this expectation.

Comprehensive reporting covers more than financial information alone. It is a fulsome description that outlines what was spent, and what tangible results were achieved with these dollars, compared to what was planned.

Mission

Organization and Budget

·        Audit staff were organized into four sectors: Education, Finance, Health and Social

Services, and Natural Resources, Environment and Transportation. Corporate Services staff provided Office-wide support e.g. financial management and human resources. 

·        The Office’s 2005/06 actual expenditures were $10.26 million - funded through  $7.67

million in a voted appropriation made by the Legislative Assembly, and $2.59 million in recoveries from audited government organizations.

Performance Information

Financial statement audits

·        The Office provided its opinion on the Province’s 2004/05 Summary Financial Statements

      in less than 3 months after fiscal year-end – a major accomplishment given that these are

      one of the most complex sets of government financial statements in Canada.

·        The Office also directly audited 19 government ministries, 29 government organizations

and was significantly involved in the audits of another 22 government organizations.

·        100% of the legislators who were surveyed and responded believed in the value of our
financial statement audits.

Risk audits

·        The Office’s recommendations to government organizations for improving performance,

      resulting from our risk audits, were reviewed and fully endorsed by the Legislative

      Assembly’s  Public Accounts Committee.

·        Three major risk audits were completed that focused on government’s corporate

      accounting system, gaming integrity risks in casinos, and management of the Pharmacare

      program.  However, some planned risk audit work was delayed in order to manage

      priority assignments for the Office that emerged during the year.

·        100% of the legislators who were surveyed and responded believed in the value of our risk
audits.

Performance reporting

·        The Office assessed how well government and its organizations had reported on its performance within their Annual Service Plan Reports. However, we did not meet the targets related to how many organizations met the standard of “Fundamentals in Place.”

·        The Office produced its second review opinion of a public-private sector partnership  value-for-money report on the Seas to Sky Highway Improvement Project.

·        While 64% of the legislators surveyed believed in the value of our performance management and reporting efforts, we did not meet our target of 93%.

Management of key risks (credibility, independence, relevance, capacity and work environment support)

·        At 82%, the Office was very close to meeting its 85% on-time target for completing

      projects. However, the result of 46% did not meet the 85% on-budget target for projects.

·        Audited organizations were generally satisfied with the way audits were conducted.

·        96% of legislators who were surveyed and responded believed that the Office’s audit opinions/reports were presented in an objective and unbiased manner and 100% believed the topics chosen for risk audits were relevant.

·        The Office’s employee engagement score of 74% indicated that staff generally believed the Office was a good place to work.

External Audit

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