Marginal note:Annual auditor’s report
62 (1) The Corporation shall cause an annual auditor’s report to be prepared in respect of itself and its wholly-owned subsidiaries, if any, in accordance with the regulations, on the accounts and financial statements of the Corporation and of each subsidiary, and the report shall be made to the Board and to the Minister.
Marginal note:Contents
(2) A report prepared pursuant to subsection (1) shall
(a) include separate statements indicating whether, in the auditor’s opinion,
(i) the financial statements are presented fairly in accordance with generally accepted accounting principles applied on a basis consistent with that of the preceding year,
(ii) any quantitative information in the Corporation’s annual report in respect of which the Board has requested the auditor’s opinion is accurate in all material respects and, if applicable, was prepared on a basis consistent with that of the preceding year, and
(iii) the transactions of the Corporation and of each subsidiary that have come to the auditor’s notice in the course of the examination for the report were in accordance with this Part and the by-laws of the Corporation or subsidiary; and
(b) call attention to any other matter falling within the scope of the examination for the report that, in the opinion of the auditor, should be brought to the attention of Parliament.
Marginal note:Regulations
(3) The Treasury Board may make regulations prescribing the form and manner in which the report referred to in subsection (1) is to be prepared.
Marginal note:Other reports
(4) The auditor shall prepare such other reports respecting the Corporation or any wholly-owned subsidiary of the Corporation as the Governor in Council may require.
Marginal note:Examination
(5) The auditor shall make such examination as the auditor considers necessary to enable the auditor to prepare a report pursuant to subsection (1) or (3).
Marginal note:Reliance on internal audit
(6) The auditor shall, to the extent that the auditor considers practicable, rely on any internal audit of the Corporation that is conducted pursuant to subsection 60(3).
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