In February 2009, the Office of the Auditor General (OAG) completed a Special Examination to provide an independent and objective assessment of the adequacy of CCC’s key systems and practices and to provide reasonable assurance that assets are safeguarded, resources are managed economically and efficiently, and that operations are carried out effectively. In the opinion of the OAG, there were no significant deficiencies in the Corporation’s systems and practices. The OAG highlights the substantial improvements to CCC’s risk management and contracting processes since the 2004 Special Examination.
Findings of the OAG Special Examination 2009
The OAG observed that recently implemented risk management and contracting practices have progressed well and the Corporation is taking the steps needed to monitor implementation on an ongoing basis. The report provides recommendations on strengthening CCC’s documentation of potential projects, further balancing its risk philosophy with its mandate, improving documentation to support the effectiveness of Corporate Social Responsibility clauses in contracts, as well as other considerations related to marketing and performance management. In addition, the report recommends that CCC ensure strategic and operational risk reviews over the life of contracts. The Corporation is working to address the OAG recommendations.
The full report of the OAG Special Examination 2009 of CCC is available here.
More information on Special Examinations is available from the Auditor General’s website at Special Examinations and from Section 138 the Financial Administration Act.