1.26 The Treasury Board of Canada Secretariat should continue
to review the departments’ implementation of the Treasury Board Policy on
Internal Controls to support the effectiveness of internal controls for
financial reporting across government. This should include monitoring the
departments’ established timelines for completing their risk-based assessments
of these controls. The Secretariat should also monitor the departments’
actions to address significant issues identified as a result of their
assessments, including monitoring that the actions are appropriate and
timely. (1.15–1.24) |
TBS response: Agreed. The Secretariat continues to acknowledge the
importance of monitoring and strengthening internal financial controls across
government. The foundational Policy on Internal Control, in place
since 1 April 2009, is a risk-based policy that advocates
effective internal control over financial reporting in departments. A
three-year, phased-in approach has been taken to the implementation of
the policy and includes a requirement for departments to publish the results
and action plans arising from assessments of the effectiveness of internal
controls over financial reporting.
In
implementing the Treasury Board’s Policy on Internal Control, the Office of
the Comptroller General (OCG) supports departments and the government’s
financial management community, by reaffirming the policy expectations
and requirements and by providing tools and guidance. The OCG also
monitors departmental progress in implementing the policy in a variety of
ways, including, but not limited to, reviews of the annual departmental disclosure
on internal controls over financial reporting, required under the Policy on
Internal Control; assessments under the Management Accountability Framework;
results of audits and evaluations; and special audits or horizontal audits
that may be commissioned by the Comptroller General of Canada.
Update: This is an
ongoing activity and part of TBS/OCG’s regular business. |
1.44 Selected departments,
in collaboration with the Office of the Comptroller General, should ensure
that succession strategies are in place to address upcoming vacancies in key
senior financial positions. (1.43) |
TBS response: Agreed. The
Office of the Comptroller General (OCG) has recently initiated a competitive
process for the establishment of a pool of candidates at the EX-02 and EX-03
levels. The departments will participate in this process and will continue to
collaborate with the OCG to support efforts to develop a succession planning
strategy to address upcoming and ongoing vacancies in key senior financial
positions.
Update: The competitive process is now complete and
the pool of candidates is available to departments. As well, TBS/OCG is
continuing to work collaboratively with departments to support efforts to
develop a succession planning strategy to address upcoming and ongoing
vacancies in key senior financial positions. |