September 2018
Government Releases Results of Commission of Inquiry and Line-by-Line Audit

2018-09-26 4:24:31 PM

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Over the past week the government of Ontario has released the results of a commission of inquiry and line-by-line audit of provincial finances. Both probes noted concern about deficit-spending and the level of debt in the province but failed to find any of the fraud or abuse that were alleged by the PC party during the election campaign. 

Last week Finance Minister Vic Fideli unveiled the results of the Independent Financial Commission of Inquiry which recommended that the government take the Auditor General's recommendations on accounting. Specifically, the commission said that the government should adhere to the Canadian Public Sector Accounting Standards on two issues: the treatment of certain pension assets and the debt associated with the suppression of electricity rates by the Liberal government's "Fair Hydro Plan." In releasing the results the Finance Minister announced that the government will adhere to the Auditor General's recommendations and is now projecting a $15 billion deficit this year, up from the $6.7 billion projected in the spring budget. 

The government also released the results of a line-by-line audit conducted by EY Canada. The audit highlighted spending across five key sectors: health and long-term care; children, community and social services; education; justice; and, post-secondary and training. It recommended that the provincial government should provide fewer services and charge more for them, sell off Crown assets, means-test provincial programs, and consolidate arms-length agencies. 

Following the release of results of these review Premier Ford announced that the government will strike a select committee to investigate waste and scandal under the previous government. The committee's mandate will be to investigate "accounting practices, decision making and policy objectives of the previous government or any other aspect of the report that the committee deems relevant."

For more: 

EY Canada, Managing Transformation - A Modernization Action Plan for Ontario: Line-by-line Review of Ontario Government Expenditures 2002/03 - 2017/18

Report of the Independent Financial Commission of Inquiry 


 


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