The approved 2002-03 audit and evaluation plan called for an internal audit and an evaluation to be carried out of Technology Partnerships Canada, TPC. Both projects have commenced and are expected to be finalized during the first quarter of the 2003-04 fiscal year. In addition, as part of its approved audit plan, the audit and evaluation branch, AEB, of Industry Canada is conducting a department-wide audit of grants and contributions, advances, loans, receivables and unamortized discounts to provide assurance of the integrity of the amounts reported in the departmental financial statements. This audit, which includes a sample of related transactions for TPC, is also expected to be finalized during the first quarter of 2003-04.
In the House of Commons on March 21st, 2003. See this statement in context.