Audit of Regions (Atlantic, Quebec, and Prairie and Northern)

5.0 Appendix A: Audit Criteria/Audit Objective

Appendix A: Audit Criteria/Audit Objective

Audit Criteria/ Audit Objective	Assess the clarity of roles and responsibilities (Governance)	Assess the risk management process (Risk Management)	Ensure compliance with Section 32, 33 and 34 of the Financial Administration Act (Internal Control)	Ensure that financial transactions are carried out with due diligence (Internal Control)	Ensure compliance with TB Policies and with IC's FCF, Directives and Procedures (Internal Control)	Criteria Met or Not Met
Signing under FAA Section 32, 33 and 34 is carried out by authorized positions	x		x			Met
Regional Operations operating and maintenance expenditures, excluding salaries, for Atlantic, Quebec, and Prairie and Northern regions were incurred in accordance with relevant policies, procedures and directives				x	x	Met
Risk management of corporate services is carried out in accordance with practices that result in sound and complete risk assessments and mitigation strategies		x				Met
Authority, responsibility and accountability are formally defined and clearly communicated between ROS, the provider of corporate services, and program clients	x					Met
Timely budgets are developed at an appropriate level of detail. Managers with budget authority and responsibility monitor their budgets and forecast progress on a regular basis				x		Met
Management conducts reviews to analyze, compare and explain financial and non-financial variances between actual and plan				x		Met
Financial and non-financial reporting is reviewed and approved and these reports are communicated internally and externally				x		Met