That's absolutely correct.
I might point out a few other things. Canada's national audit program, even before they suspended it, did not meet the standards of other member states of ICAO.
For example, it has a schedule of one audit every three years for air ops, maintenance, etc., whereas other states have a two-year schedule.
For aerodromes, Canada has an audit schedule of one audit every five years, compared to two years in other member states.
An ICAO safety oversight audit of April 2005 cites Canada for permitting a two-year pilot proficiency check, under exemption to regulatory requirements under CARs 703 and 704, which called for one year, and which do not meet the international standard of six months. This could put the bilateral agreements that Canada has with other nations in peril, in my view.