2016 Fall Reports of the Auditor General of Canada Appendix—Costs of Crown Corporation Audits

2016 Fall Reports of the Auditor General of CanadaAppendix—Costs of Crown Corporation Audits

The Office is required, under section 147 of the Financial Administration Act, to disclose its costs incurred in preparing annual audit (Exhibit 1) and special examination reports on Crown corporations.

An annual 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.

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 the 2015–16 fiscal year, the Office completed the special examination of four Crown corporations. The costs incurred are in the following table:

Subsequent to the tabling of the Appendix—Costs of Crown Corporation Audits included in the 2015 Fall Reports of the Auditor General of Canada, the Office finalized the annual audits that had been identified as incomplete. The previously reported and final costs incurred for these audit reports are in the following table: