Financial Statements as a Storytelling Tool in Governmental Audits
Many government finance staff and city managers see audits only as compliance documents. However, the audit can identify trends, risks, and red flags — if you know where to look.
This session focuses on how to use the audit as a practical management tool. Viewers will learn how different sections of the audit, including the financial statements, notes, audit opinion, and the Management’s Discussion and Analysis (MD&A), can be used to:
- Understand financial position, operating results, and cash trends
- Recognize risks, warning signs, and issues that affect future budgets and capital plans
- Interpret the significance of the audit opinion and key disclosures
- Support clearer communication with council and the public
Watch the Recording
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