Standing Committee on Public Accounts

Comité permanent des comptes publics

For immediate release

Ottawa, June 05, 2017 -

The Government of Canada received its 18th consecutive unmodified audit opinion from the Auditor General of Canada, which attests that it properly reported its overall financial performance for the 2015–2016 fiscal year to Parliament and Canadians, according to a report of the Standing Committee on Public Accounts tabled today in the House of Commons by the Hon. Kevin Sorenson, Chair of the Committee.

The Public Accounts of Canada 2016 were tabled in the House of Commons on 25 October 2016. They present the consolidated financial statements of the Government of Canada for the 2015–2016 fiscal year.

Michael Ferguson, Auditor General of Canada, expressed an unmodified audit opinion on the Public Accounts of Canada 2016. However, he made four observations on the following subjects: transformation of pay administration, the discount rates for significant long-term liabilities, the Department of National Defence’s (DND) inventory and the liabilities for contaminated sites.

In this report the Committee made one recommendation that seeks to address the AG’s observation on the discount rates used for significant long-term liabilities, and one recommendation that seeks to address the AG’s observation on DND’s inventory management.