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Andrew Newman
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Andrew Newman
2020-10-22 11:24
Thank you.
I am Andrew Newman, the independent external auditor of the House of Commons. I am pleased to introduce as well my colleague Charly Thivierge-Lortie, the senior manager responsible for the financial statements of the House of Commons.
Mr. Paquette has just presented the financial statements of the House for the year ended March 31, 2020. My role here today is to confirm my independent audit opinion on these financial statements, as well as to provide the members with a summary of our findings resulting from our audit.
Our audit opinion is attached to the financial statements presented by Mr. Paquette. Our audit was performed under Canadian generally accepted auditing standards, which are the professional standards followed for all financial statement audits in Canada. The financial statements are prepared using public sector accounting standards, which are the standards used by all governments in Canada and are issued by the Public Sector Accounting Board of Canada, on which I have had the privilege to serve for the past 12 years, including six years as vice-chair.
Our audit opinion, which is on the first page of our auditor's report, states:In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the [House of Commons] as at March 31, 2020, and its results of operations, its accumulated surplus and its cash flows for the year then ended in accordance with Canadian public sector accounting standards.
Our auditor's report is signed “KPMG LLP” and dated August 11, 2020.
Members, this is a clean, unmodified audit opinion that members of Parliament should expect their financial management team to achieve. We have also provided to the members of the board an audit findings report. In summary, our financial statement audit was fundamentally completed as planned. The pandemic required that our detailed audit procedures be performed in a virtual, secure environment, and that was achieved. I do want to thank the House of Commons administration team for their additional efforts and commitment to the audit process to make a virtual audit not only possible but relatively smooth.
During our audit, we did not identify any audit adjustments in the amounts recorded in the books and records and reported in the House financial statements. What this means is that the financial reports prepared by management prior to the audit did not change as a result of our audit. During our audit, we also did not identify any internal control deficiencies that we determined to be significant deficiencies in internal control over financial reporting. We have provided recommendations for improvements to management with respect to certain payroll processes, primarily around the documentation of the performance of certain procedures. Management agreed with our recommendations and are currently working to implement those improvements. We will review their progress during our 2021 financial statement audit.
Members, in short, this is a positive audit report. I would like to thank House management once again for their diligent participation in the audit process, and thank this board for finding the time in your busy agenda for the financial statements and audit results to be presented. This is an important aspect of governance for all organizations, particularly in the public forum that you work in every day.
I would welcome questions, if the members have any.
Thank you.
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