Editor’s note: The following is an open letter to Ward 11 Coun. Terry Kett.
I viewed the local TV newscast where you stated “They (Agilis) had a full audit, largest audit you can ever have.”
The accounting firm that audited the GSU and its subsidiaries reported it is required to obtain reasonable assurance as to whether the financial statements are free from material misstatement.
The accounting firm provided an opinion related to the financial position of GSU relative to Canadian generally accepted accounting principles (GAAP).
As required by legislation, the accounting firm provided an audited statement, the most thorough process and level of three financial statements, namely Notice to Reader, Review Engagement and Audit Engagement.
Whether your statements on local TV news was an attempt to deliberately mislead the public or whether you believe your statement and simply don’t know the difference, your statement is flawed.
I do not believe there is any designations such as “full” audit or “largest” audit. In addition to the audited statement process completed by the accounting firm for GSU, there is also an even more thorough audit process called forensic audit, though not required by legislation for GSU purposes.
Forensic auditing combines investigative techniques along with an understanding of accounting principles to determine if there are suspicious practices hiding beneath company or individual financial records and statements.
An audited statement process from the accounting firm is not designed nor is its purpose to provide the answers to the questions that involve the tower installed at Kallonen’s property.
Our auditor general is responsible for assisting the council in holding itself and its administrators accountable for the quality of stewardship over public funds and for achievement of value for money in municipal operations.
The auditor general’s office plays an important role in promoting transparency, accountability and trust in municipal operations.
I believe an audit of Agilis by anyone other than our auditor general would be an inadequate undertaking to allow for facts to become public with any credibility.