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Meeting No. 46
Thursday, February 17, 2011

The Standing Committee on Public Accounts met at 3:29 p.m. this day, in Room 268, La Promenade Building, the Chair, the Hon. Joseph Volpe, presiding.


Members of the Committee present: David Christopherson, Jean-Claude D'Amours, Earl Dreeshen, Meili Faille, Andrew Saxton, Bev Shipley, Hon. Joseph Volpe and Terence Young.


Acting Members present: Scott Armstrong for Daryl Kramp, Massimo Pacetti for Hon. Navdeep Bains and Robert Vincent for Richard Nadeau.


In attendance: Library of Parliament: Alex Smith, Analyst; Sébastien T. Defoy, Analyst.


Witnesses: Office of the Auditor General of Canada: John Wiersema, Deputy Auditor General; Nancy Cheng, Assistant Auditor General; Richard Domingue, Principal. Department of Finance: Michael Horgan, Deputy Minister; Diane Lafleur, General Director, Financial Sector Policy Branch. Canada Deposit Insurance Corporation: Michèle Bourque, President and Chief Executive Officer. Office of the Superintendent of Financial Institutions: Gary Walker, Assistant Superintendent Corporate Services Sector.

The Committee proceeded to the consideration of matters related to Committee business.

The Chair presented the Eighteenth Report from the Subcommittee on Agenda and Procedure which read as follows:

Your Subcommittee met on Wednesday, February 16, 2011, to consider the business of the Committee and agreed to make the following recommendations:

1. That, in relation to the motion adopted on November 25, 2010, the Committee begin its study of the Public Accounts of Canada 2010 on Thursday, March 3, 2011, if possible; and that, time permitting, the Committee also allocate time at this meeting for the consideration of draft reports.

2. That, pursuant to Standing Order 108(3)(g), the Committee undertake a study of the implementation of its recommendations made in the 2nd Session of the 40th Parliament, and report to the House thereon.


It was agreed, — That the report of the Subcommittee be concurred in.

Pursuant to Standing Order 108(3)(g), and the motion adopted by the Committee on Thursday, November 25, 2010, the Committee commenced consideration of Chapter 5, “Regulating and Supervising Large Banks,” of the Fall 2010 Report of the Auditor General of Canada.

John Wiersema, Michael Horgan, Michèle Bourque and Gary Walker made statements and, with Diane Lafleur, answered questions.


At 5:13 p.m., the Committee adjourned to the call of the Chair.


Joann Garbig
Clerk of the Committee

2011/02/18 10:57 a.m.