Canada Employment Insurance Financing Board Act (S.C. 2008, c. 28, s. 121)

Marginal note:Annual auditor’s report

• 28. (1) The Board shall cause an annual auditor’s report to be prepared on

  • (a) the annual financial statements referred to in subsection 27(4);

  • (b) the record of investments referred to in paragraph 27(1)(c); and

  • (c) any revised financial statement referred to in subsection 133(3) of the Financial Administration Act.

• Marginal note:Contents

  (2) The report shall be addressed to the Board and 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) the Board’s transactions that have come to the auditor’s notice in the course of the auditor’s examination for the report were in accordance with this Act and the by-laws, and

    • (iii) the record of investments referred to in paragraph 27(1)(c) fairly presents the information required by that paragraph; and

  • (b) call attention to any other matter falling within the scope of the auditor’s examination for the report that, in the auditor’s opinion, should be brought to the attention of the Board.

• Marginal note:Examination

  (3) The auditor shall carry out the examination that the auditor considers necessary to prepare the report.

• Marginal note:Auditing standards

  (4) The auditor’s examination shall be carried out in accordance with generally accepted auditing standards.

• Marginal note:Reliance on internal audit

  (5) In conducting an audit under this Act, the auditor shall rely on any internal audit conducted under subsection 27(3), to the extent that the auditor considers that reliance to be practicable.

Marginal note:Qualified privilege

29. Any oral or written statement or report made under this Act by the Board’s auditor or a former auditor of the Board has qualified privilege.

Marginal note:Special examination

• 30. (1) The Minister shall cause a special examination to be carried out at least once every five years to determine if the systems and practices referred to in paragraph 27(1)(b) were, in the period under examination, maintained in a manner that provided reasonable assurance that they met the requirements of paragraphs 27(2)(a) and (c).

• Marginal note:Plan

  (2) Before beginning a special examination, the examiner shall survey the systems and practices of the Board and submit a plan to the audit committee for the examination, including a statement of the criteria to be applied in the examination.

• Marginal note:Resolution of disagreements

  (3) Disagreements, if any, between the examiner and the audit committee with respect to the plan may be resolved by the Minister.

• Marginal note:Reliance on internal audit

  (4) An examiner shall rely on any internal audit conducted under subsection 27(3), to the extent that the examiner considers that reliance to be practicable.