Canadian province disregards accounting laws

08/12/2013 | Vancouver Sun (British Columbia), The

A deficit of more than $1 billion that the British Columbia government reported for fiscal year 2012-2013 is incorrect, says the auditor general of the Canadian province. The province actually ran a $1.75 billion surplus. The discrepancy is the result of British Columbia not following recently updated financial-reporting rules to bring its practices in line with standard accounting principles.

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Vancouver Sun (British Columbia), The