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1981 Report of the Auditor General of Canada
Appendix B—Financial Administration Act
R.S., c. F-10
Extracts from Part VIII
CROWN CORPORATIONS
Access to books, etc.
76. The auditor is entitled to have access at all convenient times to all records, documents, books, accounts and vouchers of a corporation, and is entitled to require from the directors and officers of the corporation such information and explanations as he deems necessary. R.S., c. 116, s. 86.
Auditor's report
77. (1) The auditor shall report annually to the appropriate Minister the result of his examination of the accounts and financial statements of a corporation, and the report shall state whether in his opinion(a) proper books of account have been kept by the corporation;
(b) the financial statements of the corporation
(i) were prepared on a basis consistent with that of the preceding year and are in agreement with the books of account,
(ii) in the case of the balance sheet, give a true and fair view of the state of the corporation's affairs as at the end of the financial year, and
(iii) in the case of the statement of income and expense, give a true and fair view of the income and expense of the corporation for the financial year; and
(c) the transactions of the corporation that have come under his notice have been within the powers of the corporation under this Act and any other Act applicable to the corporation;
and the auditor shall call attention to any other matter falling within the scope of his examination that in his opinion should be brought to the attention of Parliament.
Other reports
(2) The auditor shall from time to time make to the corporation or to the appropriate Minister such other reports as he may deem necessary or as the appropriate Minister may require.
Annual report
(3) The annual report of the auditor shall be included in the annual report of the corporation.
Audit
(4) Notwithstanding section 68, this section operates in lieu of section 132 of the Canada Corporations Act or sections 159 to 161 of the Canada Business Corporations Act , as the case may be.