ACAD needs to get financial reports in order, says Alberta auditor general

February 13, 2013

In a report released Tuesday, Alberta's auditor general said the Alberta College of Art + Design made improvements to its financial reporting following a series of recommendations from his office that began in 2008, but noted ACAD "is still unable to produce accurate year-end financial statements." An ACAD official says the institution has been working to improve its financial controls, as noted by the auditor general. In the auditor general's report a year ago, ACAD, along with MacEwan University, Olds College, Northern Lakes College, and NorQuest College, were identified as needing to significantly improve their accounting processes. The auditor general noted that MacEwan had made major progress in its financial practices, but problems continue at the other PSE institutions. Olds College has made improvements in the timeliness of its reporting, but still needed to do more to improve its processes and controls around its annual reporting. Auditor General of Alberta News Release | Calgary Herald | Report