Thank you, Mr. Chair.
In my 14 years in the House of Commons, this is the first time I've ever been on this committee, so you'll have to forgive a few of my questions. This is totally new to me.
First, on the whole concept of risk management, can you explain to a layman here some of the very concrete things that can go wrong if you don't do your risk management right?
I'll start with the National Capital Commission, because apparently you didn't do your risk management right, according to the Auditor General, once upon a time. What could have gone wrong, and maybe what did go wrong, because you didn't have your risk management done right once upon a time?