I appreciate the questions my colleagues are asking. They're obviously very intelligent and very insightful, but I want to draw back to the conclusion. With a grade 9 education, I rely on the auditors. I look at the conclusion on page 22. If there's anything serious to worry about—serious serious—I expect it to be here.
What does it say in the conclusion? It says, “In our opinion, based on the criteria established, there was a significant deficiency”. Now, I underscore to colleagues that “significant deficiency”, in the world of auditors, that's swearing. I mean, that's strong language. There's a big difference between “significant deficiency” and “weakness” and “improvement needed”.
I'll finish the quote. There was “a significant deficiency in the Canada Mortgage and Housing Corporation's corporate governance systems and practices,”—recognizing that they don't do the appointments, the government does—“but there was reasonable assurance that there were no significant deficiencies in the other systems and practices that we examined.” It continues:
We concluded that except for this significant deficiency, the Corporation maintained its systems and practices during the period covered by the audit in a manner that provided the reasonable assurance required under section 138 of the Financial Administration Act.
Hence my overview that I thought this was a fairly good report, and I want to focus, if I can—I only have a couple of seconds—back on the governance again, because that's the major issue here. I won't find the quote, but you made some reference that there were a couple of things the board could have done to offset that, and I'm curious as to what it is that they should have done, recognizing that they had a huge problem. They couldn't fix it directly in terms of appointments, but you suggested that there were some things they could have done but didn't.
Would you articulate those for me in the moment or two that we have left?