Good afternoon, Mr. Chairman and members of the public accounts committee. Thank you for the opportunity to appear before you today.
We are pleased with the assessment of the Canadian International Development Agency in this report. For us, the observations made by the Office of the Auditor General represent an acknowledgement of the effectiveness of the work undertaken by management to implement the requirements of the Treasury Board policy on internal audit.
It also acknowledges our efforts to ensure that the internal audit practices followed by the organization meet the standards of the Institute of Internal Auditors' international professional practices framework, which has been integrated by Treasury Board into its policy and directives.
In sum, the Auditor General report confirmed that CIDA's internal audit function has implemented the Institute of Internal Auditors' standards, applies them effectively, and achieves their stated objectives.
Chief among them is the establishment of an independent audit committee, which held its first meeting in May 2009. The agency's audit committee is composed of five members, four of whom come from outside the federal public administration. One of the individuals is the former Auditor General for the Government of Manitoba. Collectively, these members have the skills and experience required to provide the president of the agency with objective advice and recommendations.
Since its inception, the audit committee has deliberated on a number of internal and external audit reports, accountability reports, and the financial statements of the agency. In accordance with the Treasury Board's internal audit policy, the audit committee presented annual reports to the president on their assessment of the agency's governance, risk management, and control practices.
The agency has also engaged a fully accredited certified internal auditor as its chief audit executive, who reports directly to the president. The Office of the Chief Audit Executive prepares a robust, risk-based audit plan focusing on all of CIDA's management systems, practices, and processes, including the integrity of financial and non-financial information.
To ensure its continued adherence to recognized international audit standards, the office will continue to promote the necessary rigour in its internal audit activities and maintain the professional capabilities of its audit team.
I look forward to addressing any questions you may have regarding CIDA's internal audit practices.
Thank you.