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2007 October Report of the Auditor General of Canada

Appendix D—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 its costs incurred in preparing annual audit and special examination reports on Crown corporations.

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 (Exhibit D.1).

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.

In 2006–07, the Office completed the special examination of four Crown corporations. The costs incurred were:

Canada Lands Company Limited

$462,065

Canadian Air Transport Security Authority

$1,791,302

Canadian Museum of Nature

$805,050

Canadian Tourism Commission(1)

$773,000

(1) In 2006, the Office reported that the special examination of the Canadian Tourism Commission was completed in 2005–06, although a small portion of the work was completed in 2006–07. For 2006–07 the definition of when a special examination has been completed has been revised to the date of transmission of the report. As the Canadian Tourism Commission report was transmitted 11 April 2006, it is now being reported as completed in 2006–07. Therefore, the cost of the special examination of the Canadian Tourism Commission was reported in both 2005–06 and 2006–07.

Exhibit D.1—Cost of preparing annual audit reports for fiscal years ending on or before 31 March 2007

Crown corporation

Fiscal year ended

Cost

Atlantic Pilotage Authority

31.12.06

$74,455

Atomic Energy of Canada Limited (joint auditor)

31.03.07

340,296*

Blue Water Bridge Authority

31.08.06

102,279

Business Development Bank of Canada (joint auditor)

31.03.07

378,413*

Canada Council for the Arts

31.03.07

162,543*

Canada Deposit Insurance Corporation

31.03.07

127,385*

Canada Development Investment Corporation (joint auditor)

31.12.06

82,099*

Canada Lands Company Limited (joint auditor)

31.03.07

233,837*

Canada Mortgage and Housing Corporation (joint auditor)

31.12.06

607,503*

Canada Post Corporation (joint auditor)

31.12.06

689,360*

Canadian Race Relations Foundation

31.03.07

113,874*

Canadian Air Transport Security Authority

31.03.07

417,780*

Canadian Broadcasting Corporation

31.03.07

694,778*

Canadian Commercial Corporation

31.03.07

150,905*

Canadian Dairy Commission

31.07.06

157,506

Canadian Museum of Civilization

31.03.07

121,896*

Canadian Museum of Nature

31.03.07

120,060*

Canadian Tourism Commission

31.12.06

218,314*

Cape Breton Development Corporation

31.03.07

140,809*

Cape Breton Growth Fund Corporation

31.03.07

46,276*

Defence Construction (1951) Limited

31.03.07

47,545*

Enterprise Cape Breton Corporation

31.03.07

116,894*

Export Development Canada

31.12.06

918,119*

Farm Credit Canada

31.03.07

546,554*

Federal Bridge Corporation Limited, The

31.03.07

75,351*

Freshwater Fish Marketing Corporation

30.04.06

229,406

Great Lakes Pilotage Authority

31.12.06

120,448

International Development Research Centre

31.03.07

161,303*

Jacques Cartier and Champlain Bridges Incorporated, The

31.03.07

82,310*

Laurentian Pilotage Authority

31.12.06

109,124

Marine Atlantic Inc.**

31.12.06

238,914

Marine Atlantic Inc.**

31.03.07

73,780*

National Arts Centre Corporation

31.08.06

207,306

National Capital Commission

31.03.07

214,252*

National Gallery of Canada

31.03.07

98,421*

National Museum of Science and Technology

31.03.07

97,133*

Old Port of Montréal Corporation Inc.

31.03.07

215,333*

Pacific Pilotage Authority

31.12.06

53,495*

Parc Downsview Park Inc.

31.03.07

120,341*

Public Sector Pension Investment Board (joint auditor)

31.03.07

456,984*

Ridley Terminals Inc.

31.12.06

81,442*

Royal Canadian Mint

31.12.06

340,800*

Seaway International Bridge Corporation Ltd., The

31.03.07

61,198*

Standards Council of Canada

31.03.07

51,862*

Telefilm Canada

31.03.07

174,621*

VIA Rail Canada Inc. (joint auditor)

31.12.06

433,514*

* Preliminary costs subject to year-end adjustments

** Marine Atlantic Inc. has changed from a December 31 year end to a March 31 year end. The 31.12.06 audit covers a complete year, while the 31.03.07 audit is for the period from 1 January 2007 to 31 March 2007.