External Financial Audit Services

The Vendor is required to provide a publicly funded health authority established under the health authorities act and is required to obtain an annual external audit of its financial statements.
- Express an opinion on whether the financial statements are prepared, in all material respects, in accordance with the prescribed provincial framework;
- Communicate audit findings, risks, and internal control observations to the Audit and Finance Committee; and
- Provide a management letter outlining recommendations for improvement.
- External auditors are expected to remain alert to risks and issues including deficiencies in internal controls, non-compliance with legislation and policy, misuse of public funds, and governance concerns.
- Retains the authority to perform or direct audits of public sector organizations;
- Establishes audit expectations and reporting requirements applicable to health authorities;
- May review audit work performed by the external auditor to ensure compliance with standards and public sector expectations; and
- Relies on the external auditor’s work, where appropriate, to support provincial consolidated financial reporting
- Inquiry of management and those charged with governance;
- Review of financial reports, board minutes, and committee records;
- Assessment of events requiring adjustment or disclosure; and
- Obtaining management representation and legal confirmation letters.