2019 Fall Report of the Auditor General of Canada to the Parliament of Canada Costs of Crown Corporation Audits

2019 Fall Report of the Auditor General of Canada to the Parliament of Canada Costs of Crown Corporation Audits

The Office of the Auditor General of Canada (OAG) 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. The costs stated for joint audits include only the costs incurred by the OAG and not those incurred by joint auditors.

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
• operations have been carried out effectively

In the 2018–19 fiscal year, the OAG completed the special examination of 9 Crown corporations. The costs incurred are in the following table: