‘Urgent action required’ at Northern College over ‘significant deficiencies’
Urgent action must be taken over “significant issues” around financial accounting at the Northern Regional College, the Auditor General has said.
Dorinnia Carville found inadequate accounting records, and her office did not receive all the information and explanations required to complete the audit of the college’s financial statements for 2023-24.
In a report issued on Tuesday, Carville said she has taken the “highly unusual” step of disclaiming her audit opinion on both the truth and fairness of the financial statements and the regularity of transactions.
This was due to “insufficient appropriate audit evidence to provide a basis for an audit opinion”.
The report identified fundamental weaknesses in the college’s financial control environment, alongside significant deficiencies in accounting records and financial reporting processes.
It also found that the quality of the financial statements submitted for audit “deteriorated significantly” compared to the...
We've summarized this news for a quick read. If you're interested, you can read the full article here:
