The renewal was initiated after Canada adopted international audit standards—in French, we now say “audit” rather than “vérification.” There are many upcoming changes to how we do things and to the standards. For audits being completed, the new standards take effect on December 31, 2010. All auditing firms must adopt these new standards.
We issued a temporary manual that sets out the resulting differences, so that our employees can start planning the audit engagements. Last year, we entered into a strategic alliance with a major auditing firm. We expect to have access to all its material, manuals, as well as to all its training courses. We were hoping to get everything this summer, but unfortunately, that firm also experienced some delays. That is why we had to issue a temporary manual. We hope to come out with a new one at the end of the year or at the beginning of 2011. Clearly, we will adapt it to our own situation, since the public and private sectors are different. Courses are also being developed.
The project is going well, at least in terms of the financial attest audit. The performance audit, due in December 2011, is also going well.
We must also draft a manual that will cover all policies and all standards that apply to the office as a whole, regardless of the audit practice used. We are planning to issue it in 2011.
The project is moving forward. We hope to meet all our deadlines. At this time, the most pressing matter is the financial audit, since it is due on December 31. We are prepared for that change.