Mr. Speaker, a search was conducted in Innovation, Science and Economic Development Canada’s, or ISED’s, departmental financial coding system with regard to audits conducted by or on behalf of the Department of Industry of Crown corporations and government agencies since January 1, 2016. ISED has not conducted any audits of Crown corporations or government agencies since January 1, 2016.
Crown corporations, as arm’s-length organizations, are not subject to the Treasury Board “Policy on Internal Audit”. The Financial Administration Act, or FAA, requires that all parent Crown corporations have an audit committee. The FAA further stipulates that the Auditor General of Canada is appointed the external auditor, or joint auditor, of each Crown corporation, unless otherwise dictated in the corporation’s legislation or the Auditor General waives the appointment. The Treasury Board Secretariat’s “Guidelines for Audit Committees in Crown Corporations and Other Public Enterprises” has guidelines on exemptions from internal audit.
Reports to Parliament prepared by the Office of the Auditor General are available at the following address: https://www.oag-bvg.gc.ca/internet/English/parl_lpt_e_1706.html.