Thank you, Mr. Chair.
I would like to thank you all for being here. It should come as no surprise that we are going to ask questions about some of the concerns raised by the report.
The first question deals with two concepts: internal audit and internal control, which should be connected to the first. According to the definition on the Treasury Board website, internal control is “generally recognized as a set of means that organizations put in place to mitigate risks and provide reasonable assurance” in terms of effectiveness of programs, reliability of financial reporting, and compliance with regulations and policies. Internal audit is defined as a “professional, independent appraisal function that provides objective, substantiated conclusions as to how well the organization's risk management... processes are designed and working”.
My question is for the Interim Auditor General. Could you briefly tell us how the two concepts are interdependent? Please make your answer as short as possible because I have a second question.