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The Auditor General of Canada (French: La vérificatrice générale du Canada [a]) is a Supreme audit institution which acts as an officer to the Parliament of Canada tasked with highlighting accountability and oversight by conducting independent financial audits of federal government's operations. [4]
The Auditor General Act (French: Loi sur le vérificateur général) is an Act of Parliament respecting the office of the Auditor General of Canada and sustainable development monitoring and reporting. [2]
Whenever, the Speaker tables a report from the Auditor General, the report is automatically referred to the Public Accounts Committee. The committee then calls witnesses to respond to the report's findings. Once their study is concluded, the committee may present a report to the House with recommendations for improvement to government programs.
When the auditor cannot express an overall opinion, the auditor should state the reasons therefore in the auditor's report. In all cases where an auditor's name is associated with financial statements, the auditor should clearly indicate the character of the auditor's work, if any, and the degree of responsibility the auditor is taking, in the ...
The CPAB has two governing bodies. The Council of Governors consists of six members: the Superintendent of Financial Institutions, the Chair of the Ontario Securities Commission, the Chair of the Autorité des marchés financiers, the Chair of the Canadian Securities Administrators, [a] a Governor selected by the CSA, and public accountant that has audit oversight regulatory experience ...
An audit trail is a progression of records of computer data about a working framework, an application, or client exercises. Computer frameworks may have a few audit trails each gave to a specific sort of action [6] [circular reference]. Related to proper apparatuses and systems, audit trails can help with distinguishing security infringement ...
Generally Accepted Accounting Principles (GAAP) [a] of Canada provided the framework of broad guidelines, conventions, rules and procedures of accounting.In early 2006, the AcSB decided to completely converge Canadian GAAP with international GAAP, i.e. International Financial Reporting Standards (IFRS), as set by the International Accounting Standards Board (IASB), for most entities that must ...
The following are some of the major changes instituted by the Federal Accountability Act: . Auditing and accountability within departments. One of the biggest changes, recommended by the Gomery Commission, was that deputy ministers became "accounting officers", reporting directly to Parliament (thereby bypassing their ministers) on the financial administration of their respective departments.