Asia-Pacific Foundation of Canada Act (R.S.C., 1985, c. A-13)

Marginal note:Audit

35.1 The accounts and financial transactions of the Foundation shall be audited annually and a report of the audit shall be made to the Board.

Report

Marginal note:Annual report

• 36 (1) The Board shall, within four months after the end of each fiscal year of the Foundation, submit to the Minister a report, in both official languages, of the activities of the Foundation for that year. The report shall include

  • (a) the financial statements of the Foundation for that year, prepared in accordance with generally accepted accounting principles, and the auditor’s report on those financial statements;

  • (b) a detailed statement of its investment activities during that year and its investment portfolio as at the end of that year;

  • (c) a detailed statement of its funding activities;

  • (d) a statement of its plans for fulfilling its purpose for the next fiscal year; and

  • (e) an evaluation of the overall results achieved by the Foundation.

• Marginal note:Tabling in Parliament

  (2) The Minister shall cause a copy of the report to be laid before each House of Parliament on any of the first 15 days on which that House is sitting after the Minister receives it.

• Marginal note:Making report available

  (3) The Board shall, as soon as is practicable after it is tabled under subsection (2), make the report available for public scrutiny.

Review

Marginal note:Review

• 37 (1) The Board shall, within five years after the coming into force of this section and every five years after that, review the Foundation’s activities and organization and submit a report to the Minister on the activities and organization, including a statement of any changes the Board recommends.

• Marginal note:Tabling in Parliament

  (2) The Minister shall cause a copy of the report to be laid before each House of Parliament on any of the first 15 days on which that House is sitting after the Minister receives it.