Mr. Speaker, as a chartered accountant for over 25 years, I can certainly recommend that you consult with the Canadian Institute of Chartered Accountants handbook on auditing and accounting guidelines.
The member who just spoke is actually incorrect. Every engagement, whether it be an external audit or whether it be an audit review or a value for money audit, requires an engagement letter which outlines the terms and the scope of the engagement.
For every matter for which a firm is engaged, it will always give an opinion with regard to any questions or matters raised in that engagement and will be signed by the auditing firm.
In my professional opinion it would appear that there may be a matter of semantics. We have had the same thing in this place with regard to the Auditor General and her suggestions regarding value for money audits, which are not comprehensive audits. However, I can say that each and every engagement undertaken by a professional accountant must follow the same rules of professional conduct and the detail of work in true professional fashion. Accountants are also subject to professional and practice audits by the industry itself.