This Web page has been archived on the Web.
2000 December Report of the Auditor General of Canada
Appendix E—The Costs of Crown Corporation Audits Conducted by the Office of the Auditor General of Canada
Section 147 of the Financial Administration Act requires that the Office disclose the costs of preparing audit reports on all Crown corporations other than those exempted under section 85 of the Act (see Exhibit 1). An audit report includes an opinion on a corporation's financial statements and on its compliance with specified authorities. It may also include reporting on any other matter deemed significant.
The Office is also required by section 68 of the Broadcasting Act to report the cost of any audit report on the Canadian Broadcasting Corporation. For the fiscal year ended 31 March 2000, the full cost of the annual audit report was $421,035.
Section 138 of the Financial Administration Act requires that, at least once every five years, each parent Crown corporation named in Schedule III of the Act undergo a special examination. This is distinct from the requirement for the annual audit of financial statements.
The objective of a special examination is to determine whether a corporation's financial and management control and information systems and its management practices provide reasonable assurance that:
- assets have been safeguarded and controlled;
- financial, human and physical resources have been managed economically and efficiently; and
- operations have been carried out effectively.
In 1999-2000 the Office completed the special examination of twelve Crown corporations. The costs were:
|
Canada Deposit Insurance Corporation |
$557,219 |
|
Canada Development Investment Corporation (Joint Examiner) |
$62,401 |
|
Enterprise Cape Breton Corporation |
$276,600 |
|
Export Development Corporation |
$847,708 |
|
Fresh Water Fish Marketing Corporation |
$228,743 |
|
Marine Atlantic Inc. |
$387,965 |
|
National Gallery of Canada |
$483,776 |
|
National Museum of Science and Technology |
$547,234 |
|
Old Port of Montreal Corporation Inc. |
$355,393 |
|
Queens Quay West Land Corporation |
$28,617 |
|
Royal Canadian Mint |
$603,974 |
|
Standards Council of Canada |
$301,829 |
Exhibit 1
Costs of Preparing Annual Audit Reports for Fiscal Years Ending on or before 31 March 2000
|
Crown Corporation |
Fiscal Year |
Cost |
|---|---|---|
|
Atlantic Pilotage Authority |
31.12.99 |
$60,217 |
|
Atomic Energy of Canada Limited (Joint Auditor) |
31.03.00 |
266,175 |
|
Business Development Bank of Canada (Joint Auditor) |
31.03.00 |
301,271 |
|
Canada Deposit Insurance Corporation |
31.03.00 |
84,548 |
|
Canada Development Investment Corporation (Joint Auditor) |
31.12.99 |
44,934 |
|
Canada Lands Company Limited (Joint Auditor) |
31.03.00 |
203,237 |
|
Canada Mortgage and Housing Corporation (Joint Auditor) |
31.12.99 |
275,293 |
|
Canadian Commercial Corporation |
31.03.00 |
100,013 |
|
Canadian Dairy Commission |
31.07.99 |
104,820 |
|
Canadian Museum of Civilization |
31.03.00 |
80,067 |
|
Canadian Museum of Nature |
31.03.00 |
77,118 |
|
Cape Breton Development Corporation |
31.03.00 |
234,455 |
|
Defence Construction (1951) Limited |
31.03.00 |
49,505 |
|
Enterprise Cape Breton Corporation |
31.03.00 |
96,140 |
|
Export Development Corporation |
31.12.99 |
454,399 |
|
Farm Credit Corporation |
31.03.00 |
323,345 |
|
Federal Bridges Corporation Ltd. |
31.03.00 |
42,683 |
|
Freshwater Fish Marketing Corporation |
30.04.99 |
71,517 |
|
Great Lakes Pilotage Authority, Ltd. |
31.12.99 |
48,897 |
|
Laurentian Pilotage Authority |
31.12.99 |
60,485 |
|
Marine Atlantic Inc. |
31.12.99 |
205,089 |
|
National Capital Commission |
31.03.00 |
204,639 |
|
National Gallery of Canada |
31.03.00 |
94,568 |
|
National Museum of Science and Technology |
31.03.00 |
74,359 |
|
Old Port of Montreal Corporation Inc. |
31.03.00 |
120,120 |
|
Pacific Pilotage Authority |
31.12.99 |
39,458 |
|
Petro-Canada Limited |
31.12.99 |
14,232 |
|
Queens Quay West Land Corporation |
31.03.00 |
33,785 |
|
Royal Canadian Mint |
31.12.99 |
245,254 |
|
Seaway International Bridge Corporation Ltd. |
31.12.99 |
40,435 |
|
The Jacques Cartier and Champlain Bridges Incorporated |
31.03.00 |
61,943 |
|
Standards Council of Canada |
31.03.00 |
38,504 |
|
VIA Rail Canada Inc. (Joint Auditor) |
31.12.99 |
230,545 |