Do a Crown corporation’s systems and practices provide reasonable assurance that assets are safeguarded, resources are managed economically and efficiently, and operations are carried out effectively? Special examinations answer this question.
The Office of the Auditor General of Canada audits most, but not all, Crown corporations. Under the Financial Administration Act, federal Crown corporations are subject to a special examination at least once every 10 years.
Special examinations are a form of performance audit, but their scope is set by law to include the entire entity being audited. In special examinations, the Auditor General provides an opinion on the management of the Crown corporation as a whole.
At the start of a special examination, the examination team provides the corporation’s audit committee with the examination plan, which includes the criteria that will be used in the examination. When the examination is complete, the Office submits its report directly to the corporation’s board of directors.
In March 2009, the Budget Implementation Act amended the Financial Administration Act to add measures that introduce new governance rules for Crown corporations. The board of directors is now required to submit special examination reports to the appropriate minister and the President of the Treasury Board within 30 days after it receives them. The board of directors is also required to make the reports available to the public within 60 days after it receives them.
A Special examination report was submitted to the Board of Directors of the Crown Corporations listed below in the stated year. Reports are available on Crown Corporations’ individual websites.
- Old Port of Montreal Inc.
- Canadian Broadcasting Corporation
- Laurentian Pilotage Authority
- Canadian Museum of Civilization Corporation
- Farm Credit Canada
- Public Sector Pension Investment Board
- Canadian Race Relations Foundation
- Canadian Dairy Commission
- Canada Deposit Insurance Corporation
- Telefilm Canada
- National Arts Centre Corporation
- Freshwater Fish Marketing Corporation
- Export Development Canada
- Canada Mortgage and Housing Corporation
- Standards Council of Canada
- Business Development Bank of Canada
- National Gallery of Canada
- National Museum of Science and Technology
- Canadian Commercial Corporation
- Marine Atlantic Inc.
- Enterprise Cape Breton Corporation
- Canada Post
- Canada Development Investment Corporation