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University of Regina receives clean, unqualified audit opinion from Provincial Auditor

News Release Release Date: August 30, 2013 12:15 p.m.

The University of Regina has received a clean, unqualified opinion from the Provincial Auditor for the year ended April 30, 2013. 

The audit, which is conducted annually, examined the University’s financial statements for the past year, as well as procedures related to activities such as spending, borrowing and fundraising.  The audit found the University’s financial statements to be reliable, and that rules and procedures to safeguard public resources were effective. Within this financial audit, no acts that were possibly fraudulent or illegal were discovered, and there were no breaches of the corporate code of conduct or other sources of concern.

“This audit confirms what one would expect of an institution which has had 19 consecutive balanced operating budgets – that the University of Regina is under sound financial management,” said University of Regina President and Vice-Chancellor Dr. Vianne Timmons. “Thanks to the commitment of all of our employees, the University continues to fulfill its academic mission in a manner that is fiscally responsible, efficient, and accountable to the people of Saskatchewan.”

“I’m very pleased that the University has received this vote of confidence from the provincial auditor,” added Elaine Bourassa, Chair of the Audit and Risk Management Committee of the University’s Board of Governors. “The University has had an excellent relationship with the provincial auditor and we look forward to working with the office in the coming year.”

 

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