Audit of the Automotive Innovation Fund Program — Phase I

Audit of the
Automotive Innovation Fund Program — Phase I
January 2011

Recommended for Approval to the Deputy Minister by Departmental Audit Committee on
January 25, 2011

Approved by the Deputy Minister on January 31, 2011

Table of Contents

• 1.0 Executive Summary
  • 1.1 Introduction
  • 1.2 Overall Conclusion
  • 1.3 Main Findings
  • 1.4 Recommendations
  • 1.5 Statement of Assurance
  • 1.6 Audit Opinion
• 2.0 About the Audit
  • 2.1 AIF Background
  • 2.2 Audit Context
  • 2.3 Audit Scope
  • 2.4 Methodology
• 3.0 Findings and Recommendations
  • 3.1 Introduction
  • 3.2 Governance
  • 3.3 Risk Management
    • Finding 1.0: Risk assessment process
    • Recommendation 1.0:
  • 3.4 Internal Control
    • Finding 2.0: Documentation
    • Recommendation 2.0:
    • Recommendation 2.1:
• 4.0 Overall Conclusion
• 5.0 Appendix A
• 6.0 Appendix B: Management Action Plan