Niagara Region’s 2017 year-end financial statements have been reviewed by third party Deloitte LLP which have resulted in an unmodified audit opinion and no management letter points.
The third-party auditor’s report concluded that Niagara Region’s financial statements conform to Canadian Public section accounting standards and present fairly, in all material respects the financial position of the Region.
Typically, when an auditor reviews the year-end financial statements of a corporation they will send back a list of managements letter points, or suggestions on ways to improve practices. However, this year Deloitte felt these suggestions unnecessary and issued no management letter points in their review.
This news reflects the Region and Council’s commitment to organizational excellence through continued strengthening of its financial control framework.
"I would like to thank Council, our Audit Committee and, especially, our staff for embracing the new approach to managing our finances. The investments we have made together in updating software and training our staff have resulted in the unqualified success."
~ Tony Quirk, Regional Councillor & Audit Committee Chair
"As Regional Chair, I am pleased that our Council's commitment to transparency and effective spending of tax dollars are reflected in our organization's 2017 Consolidated Financial Statements. I would like to thank the Enterprise Resource Management Team for their ongoing hard work to adhere to and exceed the auditor's expectations."
~ Alan Caslin, Regional Chair
905-980-6000 ext. 3813