Thank you, Mr. Chair.
Thank you for that comment, Mr. Ernewein. I want to just add onto it, because I think this is a very good discussion.
My colleague has spoken to boards of directors dating back to the Enron scandal with regard to some of the difficulties that were held by corporations in the U.S. early on. We saw a lot of press around that, but out of that has come great education. Organizations like the Institute of Corporate Directors, originally out of U of T, spread across the country and now are educating those who want to participate on a board of directors as to what their obligations are. If you're going to participate on a board today, you'd better know what the rules are and what your obligations are so that the company is operating at a standard that's not going to put you or any of your colleagues into an area that is going to have you under review.
I also think that type of education has taken us away from the days of “the rubber stamp environment”. When we saw in the newspapers and the media what came of those early scandals, it was disheartening to everybody out there and certainly to those who might be in the investment world to see the type of mismanagement that was going on within those organizations. Today we're in a better place because of some of that. You talked about some of the learning at CRA and in some of the organizations. I think that is a positive solution.
Mr. Gallivan, in your opening comments you talked about TEBA, and some of the benefits of TEBA. I wonder if you could expand on that and talk to us a little bit about how you measure that, how that works, and whether CRA uses TEBA to leverage and improve upon audit activities that it conducts.