Mr. Speaker, let me quote again:
...we cannot state unequivocally that the government's method of accounting for foundations contravenes the accounting standards established by the Public Sector Accounting Board (PSAB) of the Canadian Institute of Chartered Accountants.
In other words, the foundations are accounting exactly as they should be.
The report went on to say that provisions for corporate plans and annual reports have improved, that most foundations provided information on how much money was spent and how many projects were funded. It also stated, “We found more information each year on foundations in the estimates documents of the sponsoring departments”.
The Auditor General had a great deal to say about this.