Accounting firm KPMG has denied signing off on the city’s 2021 financial statements. KPMG resigned from the audit engagement in December 2022, before the audit was completed, and no opinion had been expressed and signed. An expert warned that until an auditor signs off on the financial statements, they cannot be considered audited. Nevertheless, the city published on its website a financial package for 2021, stating that KPMG had audited the financials and that they had been approved by the audit committee and council. KPMG is demanding that the city remove the financial statement from its website and issue a communication to confirm that the 2021 financial statement was not audited by KPMG.
Sources:
https://calgaryherald.com/news/local-news/chestermere-incomplete-audit-kpmg
