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2004 November Report of the Auditor General of Canada

November 2004 Report

Appendix E—Costs of Crown corporation audits conducted by the Office of the Auditor General of Canada

The Office is required under section 147 of the Financial Administration Act to disclose the cost of preparing audit reports on all Crown corporations (Exhibit E.1), other than those exempted under section 85 of the Act. An audit report provides an opinion on a corporation's financial statements and on its compliance with specified authorities. It may also report on any other matter deemed significant.

The Office is 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 2004, the full cost of the annual audit report was $698,535.

In 2003-2004 the Office completed the special examination of seven Crown corporations.

A special examination determines 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.

The costs of the special examinations were

Exhibit E.1

Cost of preparing annual audit reports for fiscal years ending on or before 31 March 2004