Auditor General does not agree with government’s books

FOR IMMEDIATE RELEASE

September 08, 2017

Auditor General does not agree with government’s books

LONDON – The Auditor General stated the government’s Public Accounts released this week did not accurately portray the annual deficit and net debt.

“This is the second year in a row that the Auditor General has refused to sign off on the government’s Public Accounts, and it comes as no surprise, said Yurek.

The Auditor General notes the deficit is understated by $1.444 billion for 2016/17 ($1.831 billion in 2015/16) and the net debt is understated by $12.429 billion for 2016/17 ($10.985 billion in 2015/16).

“The Auditor General stated in her press release yesterday that Ontarians should be able to rely on the Province’s financial statement being accurately reported however for a second year in a row the Wynne Liberal’s have failed to do so” continued Yurek. How can the people of the province trust this government when independent officers hired to oversee our system have no faith in the government’s accountability?”

The accounting practice the Liberal’s have designed for the “reduction” in electricity bills also came under question which may lead to a larger understated deficit and net debt next year.

“It is clear from the Auditor General’s finding and recent reports from the Financial Accountability Officer that this government’s sole focus is to get re-elected in 2018 and not necessarily act in the best interest of the province.” Yurek concluded.

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