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Case Study

Review & Restate TCA: Correcting Errors in Asset Data & Restating Financial Statements

Since 2009, and PS 3150 adoption, many governments have not performed a structured and systematic asset register data review. The purpose of this review is to identify and correct the historical errors that have been sitting on the books for the past decade.  In the case of the Township of Wilmot and the District of Squamish, these data errors had been perpetuating significant incorrect balances for TCA values and material misstatements. In both cases, correcting these prior Asset Register Data errors has improved integrity and trust in the numbers for Council decision-making. These organizations are making better decisions and have improved the data used for capital budgeting and planning.   

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