Document(s) 2 of 5

1.      Federal Crown corporations are required under the Financial Administration Act (FAA) to undergo a special examination at least once every five years.  The purpose of a special examination is to assess whether a corporation has systems and practices in place to ensure that its assets are safeguarded and controlled; that its financial, human, and physical resources are managed economically and efficiently; and that its operations are carried out effectively.

 

2.  The International Development Research Centre (IDRC) is one of the few federal Crown corporations not subject to the FAA and consequently exempted from that requirement. However, in keeping with the spirit of the accountability framework in place for Crown corporations, management and the Board of Governors of IDRC volunteered to undergo a special examination. The Board of Governors adopted a resolution in June 2001 requesting our Office to undertake an examination; an order-in-council dated 6 December 2001 gave us specific authority to carry it out.

 

 

 

 

Document(s) 2 of 5