Corporate Audit and Evaluation Branch CAE – Building Effective Relationship with the CFO and the Audit Committee Corporate Audit and Evaluation Branch FMI PD Week – November 27, 2008

OUR ROLE Corporate Audit and Evaluation Branch (CAEB) Three lines of business: Internal Audit Program Evaluation Liaison with OAG Together, we support the achievement of the Agency’s strategic goals by providing independent, evidence-based and objective information, advice and assurance CAEB activities examine the soundness of the Agency's management framework as well as the effectiveness, efficiency and economy of its strategies, programs and practices.

Interaction with CFO Independant reporting relationship – both CAE and CFO report directly to the CEO Internal audit teams organized in portfolio approach Very good working relationship – built on trust and professionalism

Interaction with Audit Committee Board of Management accountable for overseeing the management of CRA CAE accountable to both the Commissioner (CEO) and the Audit Committee Audit Committee approves Audit and Evaluation’s Business Plan and reviews internal audit and program evaluation reports Attends Audit Committee meetings, similar to CFO, holds quarterly in-camera (private) sessions Audit Committee provides input into the CAE’s performance assessment Open relationship, built on trust and professionalism

Issues / Challenges Public reporting of audit and evaluation reports Audit fatigue – internal audits, program evaluations, many « external » auditors Coverage of large complex decentralized entity such as CRA