In this information report we explain rate-regulated accounting, both in general, and how it has been applied at BC Hydro.
The Financial Statement Audit Coverage Plan outlines a three-year financial audit plan for the Auditor General, detailing which government organizations our office will audit directly and which will be audited by private sector auditors. The plan is prepared according to the Auditor General Act and professional auditing standards, and presented to the Select Standing Committee on Public Accounts for approval.
The Performance Audit Coverage Plan lists in-progress audits as well as those that the office anticipates starting over the next three years. This year, new performance audit topics include mental health and addictions, capital planning, and programs that impact Indigenous peoples. The plan also reflects work the office has started over the past year, which includes audits of the avalanche program, resource roads and wetlands.
In this audit we looked at whether the Public Service Agency and a sample of ministries had controls in place to effectively manage the short term illness and injury plan.
In this audit we determined whether the Ministry of Finance maintains secure, valid, complete and accurate supplier information in the Corporate Accounting System.
In this audit, we looked at whether the Ministry of Transportation and Infrastructure, the Insurance Corporation of British Columbia and the Ministry of Public Safety and Solicitor General have effectively managed their respective programs to promote the safe operation of commercial vehicles on B.C. roads.
In this audit, we looked at capital asset management in BC Hydro. Specifically we looked at whether BC Hydro was managing its assets well through appropriate information, practices, processes and systems. We found that it is.