Department of Finance Canada’s Internal Audit Directorate: Key Compliance Attributes of Internal Audit
Report – November 1st, 2021
Directive on Internal Audit
Appendix A: Mandatory Procedures for Internal Auditing in the Government of Canada
- A.2.2.3 Departments must meet public reporting requirements as prescribed by the Comptroller General of Canada and using Treasury Board of Canada Secretariat prescribed platforms, including:
- A.184.108.40.206 Performance results for the internal audit function
- The objective of publishing departmental internal audit performance results, in the form of key compliance attributes, is to provide pertinent information to stakeholders (Canadians, parliamentarians) regarding the professionalism, performance and impact of the function in departments.
The key compliance attributes detailed below have been selected to show an external audience that an internal audit function is in place within the Department and is operating as intended.
Departments with internal audit functions are required to publish key attributes of compliance as per section A.220.127.116.11 of the Treasury Board Directive on Internal Audit. It is important that the public is aware that the heads of government organizations are receiving assurance and that activities are managed in a way that demonstrates responsible stewardship.
More information regarding the rationale behind publishing these attributes can be found under the OCG web page.
|Compliance attributes will answer questions that stakeholders may have about the oversight of public resources||Key compliance attributes||Results – April 1 to November 1, 2021|
|Do internal auditors in departments have the training to do the job effectively? Are multidisciplinary teams in place to address diverse risks?||1(a) % of staff with an internal audit or accounting designation (Certified Internal Auditor (CIA), Chartered Professional Accountant (CPA))
1(b) % of staff with an internal audit or accounting designation (CIA, CPA) in progress
1(c) % of staff holding other designations (CGAP, CISA, etc.)
|1(a) 71% of staff have an internal audit or accounting designation (CIA, CPA)
1(b) 43% of staff with an internal audit or accounting designation (CIA, CPA) in progress
1(c) 14% of staff hold other designations (CGAP, CRMA, etc.)
|Is internal audit work performed in conformance with the international standards for the profession of internal audit as required by Treasury Board policy?||2(a) Date of last comprehensive briefing to the Departmental Audit Committee (DAC) on the internal processes, tools, and information considered necessary to evaluate conformance with the IIA Code of Ethics and the Standards and the results of the quality assurance and improvement program (QAIP)
2(b) Date of last external assessment
|2(a) The last comprehensive briefing to DAC on the internal processes, tools, and information considered necessary to evaluate conformance with the IIA Code of Ethics and the Standards and the results of the QAIP was on May 18, 2021.
2(b) The last external assessment was completed on July 15, 2017.
|Are the RBAPs submitted to audit committees and approved by deputy heads implemented as planned with resulting reports published? Is management acting on audit recommendations for improvements to departmental processes?||3 RBAPs and related information
(a) name / status of audit for the current fiscal year of the RBAP
(b) date the audit report was approved
(c) date the audit report was published
(d) original planned date for completion of all management action plan (MAP) items
(e) status of MAP items
|The 2021 to 2023 RBAP* was presented to the DAC members on October 4, 2021 and approved by the Deputy Minister on November 1st, 2021.
See Table 1 – Audit plan and related information for details on the execution of the plan.
*Adjustments to the planned internal audits that were presented in the 2021–2022 List of Planned Internal Audit Engagements may have occurred in order to address emerging risks and priorities of the organization.
|Is internal audit credible and adding value in support of the mandate and strategic objectives of the organization?||4 Average overall usefulness rating from senior management (ADM-level or equivalent) of areas audited.||Senior management of areas audited rated the overall usefulness of our work as "Excellent" (17%), "Good" (71%) and "Fair" (13%) out of potential rankings of Excellent, Good, Fair, and Poor.|
|Internal audit||Audit status||Report approved date||Report published date||Original planned MAP completion date||Implementation status|
|1||Audit of Information Management of the Federal Budget Process||Published: MAP not fully implemented||2018/10/24||2019/01/25||March 2019||83%|
|2||Joint Audit and Evaluation of the Department's Information and Records Management System (SharePoint)||Approved: MAP not fully implemented||2020/09/03||2020/10/30||December 2022||50%|
|3||Audit of G&S Expenditures Related to COVID-19||Published: MAP not fully implemented||2021/06/01||2021/08/30||June 2022||0%|
|4||Consulting Engagement – COVID-19 Lessons Learned – Phase 1||Approved: No MAPs||2021/10/01||N/A||N/A||N/A|
|5||Consulting Engagement – Staffing Review – Phase 2||Completed||N/A||N/A||N/A||N/A|
|6||Consulting Engagement – FINTRAC Business Continuity Plan (Special Request)||Ongoing|
|7||Audit of Financial Commitments to International Financial Institutions||Ongoing|
|8||Audit of Gender-based Analysis||Cancelled|
|9||Audit of the Business Continuity Plan||Cancelled|
|10||Consulting Engagement – Departmental Information and IT Security Practices||Planned|
|11||Consulting Engagement – COVID-19 Lessons Learned – Phase 2||Planned|
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