The Auditor General Of Canada

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In 2011, Michael Fergusons began his ten year, non-renewable term as the newly appointed Auditor General of Canada. As an Officer of Parliament, the work that Ferguson does is held accountable by Parliament.
Background Information
Before he was appointed as the Auditor General of Canada, Ferguson held many different jobs that related to accounting. From 2005 to 2010, Ferguson was the Auditor General of New Brunswick and was a past president of the New Brunswick Institute of Chartered Accountants, (Office of the Auditor General)
“The Auditor General audits federal government departments and agencies, most Crown corporations, and many other federal organizations, and reports to Parliament. The Auditor General of Canada is also the …show more content…

Financial Audit In a financial audit, the Auditor General is looking directly at the transactions and financial statements of the entity in search that the financial statements have been presented fairly with full disclosure and that they have met legislative authorities. With more than ninety-five audits performed on different government departments, Crown corporations and governments of the Yukon, Nunavut and Northwest territories, these financial statements are a great source in deciding whether or not these entities have been spending public funds appropriately. The Auditor General will come to a decision about whether or not the transactions have followed laws and will bring to the attention of Parliament anything believed to be of importance.

Performance Audit
Special Examination
A special examination is derived from performance audits, but are only executed on Crown corporations. These special examinations, “consider whether a Crown corporation’s systems and practices provide reasonable assurance that its assets are safeguarded, its resources are managed economically and efficiently, and its operations are carried out effectively,” (Office of the Auditor General of Canada). Each Crown corporation must undergo a special examination a minimum of every ten years which is enforced by the Financial Administration Act. Per year, the Office of the

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