The City of Yorkton financial statements for 2016 have been audited.
And Monday at its regular meeting Yorkton Council approved that auditor’s report.
“Collins Barrow PQ LLP has audited the financial position of the City of Yorkton as at December 31, 2016 and they confirm that the financial statements present fairly, in all material respects, the City’s financial position and the results of its operations and changes for the year ended,” explained Shannon Bell, Director of Finance with the City.
In conjunction with new Canadian auditing standards, a final statement cannot be issued until the auditors receive approval from Council. The Auditors are required to audit procedures up to the date of approval to include any subsequent events, explained Bell.
Once Council approves the draft statements and the Director of Finance signs the representation letter, the auditors will issue financial statements.
City Management continues to be responsible for:
• System of Internal Controls
• Legislative Compliance
• Financial Statements and Financial Records
“We are pleased that the independent auditor’s report indicates compliance with Canadian Public Sector Accounting Standards,” noted Bell.
