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2002 December Report of the Auditor General of Canada
Appendix E—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 (Exhibit E.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 2002, the full cost of the annual audit report was $583,768.
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 2001-02, the Office completed the special examination of the Canadian Museum of Nature. The cost was $714,838.
Exhibit E.1
Cost of preparing annual audit reports for fiscal years ending on or before 31 March 2002
|
Crown Corporation |
Fiscal year |
Cost |
|---|---|---|
|
Atlantic Pilotage Authority |
31.12.01 |
$ 46,671 |
|
Atomic Energy of Canada Limited (joint auditor) |
31.03.02 |
213,645 |
|
Business Development Bank of Canada (joint auditor) |
31.03.02 |
269,986 |
|
Canada Deposit Insurance Corporation |
31.03.02 |
144,827 |
|
Canada Development Investment Corporation (joint auditor) |
31.12.01 |
23,071 |
|
Canada Lands Company Limited (joint auditor) |
31.03.02 |
306,527 |
|
Canada Mortgage and Housing Corporation (joint auditor) |
31.12.01 |
362,267 |
|
Canadian Commercial Corporation |
31.03.02 |
154,811 |
|
Canadian Dairy Commission |
31.07.01 |
89,898 |
|
Canadian Museum of Civilization |
31.03.02 |
99,190 |
|
Canadian Tourism Commission |
31.12.01 |
330,632 |
|
Canadian Museum of Nature |
31.03.02 |
104,439 |
|
Cape Breton Development Corporation |
31.03.02 |
133,323 |
|
Cape Breton Growth Fund |
31.03.02 |
23,937 |
|
Defence Construction (1951) Limited |
31.03.02 |
65,655 |
|
Enterprise Cape Breton Corporation |
31.03.02 |
107,517 |
|
Export Development Canada |
31.12.01 |
542,865 |
|
Farm Credit Canada |
31.03.02 |
339,132 |
|
Federal Bridge Corporation Ltd. |
31.03.02 |
47,906 |
|
Freshwater Fish Marketing Corporation |
30.04.01 |
105,996 |
|
Great Lakes Pilotage Authority |
31.12.01 |
84,998 |
|
Laurentian Pilotage Authority |
31.12.01 |
80,623 |
|
Jacques Cartier and Champlain Bridges Incorporated |
31.03.02 |
73,973 |
|
Marine Atlantic Inc. |
31.12.01 |
177,298 |
|
National Capital Commission |
31.03.02 |
147,364 |
|
National Gallery of Canada |
31.03.02 |
94,344 |
|
National Museum of Science and Technology |
31.03.02 |
112,677 |
|
Old Port of Montreal Corporation Inc. |
31.03.02 |
236,261 |
|
Pacific Pilotage Authority |
31.12.01 |
37,402 |
|
Petro-Canada Limited |
31.12.01 |
313 |
|
Queens Quay West Land Corporation |
31.03.02 |
56,225 |
|
Royal Canadian Mint |
31.12.01 |
312,409 |
|
Ridley Terminals Inc. |
31.12.01 |
46,046 |
|
Seaway International Bridge Corporation Ltd. |
31.12.01 |
41,787 |
|
Standards Council of Canada |
31.03.02 |
62,690 |
|
VIA Rail Canada Inc. (joint auditor) |
31.12.01 |
243,844 |