For immediate release November 18, 2004 OTTAWA - Reg Alcock, President of the Treasury Board, today announced a multi-year initiative to strengthen the internal audit function across the federal government. "The actions being announced today to strengthen internal audit deliver on our commitment in Budget 2004 to reorganize and bolster the internal audit function on a Government-wide basis, based on sound risk analyses of all departmental activities," said Minister Alcock. "Strengthening internal audit is an important part of our agenda to improve public sector management and ensure the rigorous stewardship of public funds." The multi-year initiative, being developed by the new Comptroller General of Canada, will enhance the internal audit capacity in the public sector, and introduce standardized, proven audit processes. "As a first step, the Comptroller General will provide internal audit services to 63 small departments and agencies. This is an efficient and cost-effective way to strengthen internal control and performance measurement and improve the ability of these smaller organizations to meet policy and regulation requirements," said Minister Alcock. "As part of our assessment of the audit capacity in Government, we have launched consultations with key stakeholders such as the Canadian Institute of Chartered Accountants, the Institute of Internal Auditors, and other professional organizations on changes to internal audit policy and practices." The consultation process will focus on issues such as the revision of the current Internal Audit Policy, the organizational independence of internal audit groups, a clear definition of roles and responsibilities of senior managers and departmental comptrollers, guidance on best practices and training, the staffing of internal-auditor positions across the federal public service, and the creation of standardized internal methodologies and tools. Details on further steps in the multi-year plan will be announced following the completion of consultations. - 30 - For more information, contact: Lise Jolicoeur Press Secretary Office of the President of the Treasury Board and Minister responsible for the Canadian Wheat Board (613) 957-2666 Robert Makichuk Media Relations Treasury Board of Canada Secretariat (613) 957-2391 IF THERE IS A DISCREPANCY BETWEEN ANY PRINTED VERSION AND THE ELECTRONIC VERSION OF THIS NEWS RELEASE, THE ELECTRONIC VERSION WILL PREVAIL. TTY (Telecommunications device for the hearing impaired) - (613) 957-9090
