SUMMARY

The purpose of this enactment is to require Crown corporations and departments to complete an annual internal audit and audit report, using internal or external auditors who are to be qualified as prescribed by the Auditor General. The internal audit report is then to be submitted to the head of the corporation or minister for the department, and to the Auditor General. Either of them may require further examination of records.

This will secure a greater involvement and commitment of Crown corporations and departments in their own financial regulation and will assist the Auditor General in the timely fulfilment of the duties required under the Auditor General Act.