Translation of "Directeur des services de vérification interne " (French → English) :

29. Takes the view that there should be clear demarcation between the audit services and non-audit services that an audit firm provides to a customer, with a view to avoiding conflicts of interest as referred to in Article 22(2) of Directive 2006/43/EC and in accordance with codes of auditing practice; points out that this could restrict ‘lowballing’, the practice of offering cut-price auditing with a view to then offsetting the l ...[+++]ower price by charging for additional services; takes the view, therefore, that the demarcation must apply to all firms and their clients; calls on the Commission, with reference to the 2002 Recommendations on Statutory Auditor Independence, to draw up a list of conditions under which such services would be deemed incompatible with audit services; recognises that the provision of non-audit services, where not incompatible with auditor independence, can play an essential role in broadening the skills base of small and medium-sized audit firms, but takes the view that internal and external audit services should not be provided simultaneously;

29. Takes the view that there should be clear demarcation between the audit services and non-audit services that an audit firm provides to a customer, with a view to avoiding conflicts of interest as referred to in Article 22(2) of Directive 2006/43/EC and in accordance with codes of auditing practice; points out that this could restrict ‘lowballing’, the practice of offering cut-price auditing with a view to then offsetting the l ...[+++]ower price by charging for additional services; takes the view, therefore, that the demarcation must apply to all firms and their clients; calls on the Commission, with reference to the 2002 Recommendations on Statutory Auditor Independence, to draw up a list of conditions under which such services would be deemed incompatible with audit services; recognises that the provision of non-audit services, where not incompatible with auditor independence, can play an essential role in broadening the skills base of small and medium-sized audit firms, but takes the view that internal and external audit services should not be provided simultaneously;

10. Acknowledges that, in 2009, the IAS performed an audit on Building Blocks of Director's Declaration of Assurance with the objective of obtaining reasonable assurance as to the adequacy, effectiveness and disclosure in the Annual Activity Report of the different building blocks that constitute the basis for the Director's Declaration of Assurance; notes that the IAS found that the scarcity of relevant information underpinning the observation provided by the Director in his Declaration of Assurance may mislead the reader; calls, therefore, on the Director of the Foundation to elaborate in more detail these ...[+++]observations (by providing inter alia information on the criteria for classification, on the potential detrimental impact and/or materiality, and on the likelihood of a negative event taking place);

10. Acknowledges that, in 2009, the IAS performed an audit on Building Blocks of Director's Declaration of Assurance with the objective of obtaining reasonable assurance as to the adequacy, effectiveness and disclosure in the Annual Activity Report of the different building blocks that constitute the basis for the Director's Declaration of Assurance; notes that the IAS found that the scarcity of relevant information underpinning the observation provided by the Director in his Declaration of Assurance may mislead the reader; calls, therefore, on the Director of the Foundation to elaborate in more detail these ...[+++]observations (by providing inter alia information on the criteria for classification, on the potential detrimental impact and/or materiality, and on the likelihood of a negative event taking place);

12. Is concerned about the fact that once again the Centre has not comprehensively fulfilled its obligation to send to the discharge authority a report drawn up by its Director summarising the content of the Internal Audit Service (IAS) recommendation as provided for in Article 72(5) of the framework Financial Regulation; is concerned, in particular, that, in relation to the follow-up of earlier recommendations, the Centre received one ‘very important’ recommendation and seven other ‘important’ recommendations from the IAS but that n ...[+++]o information is given on their content; urges therefore the Director of the Centre to provide this information;

Hon. Ralph Goodale (Minister of Public Works and Government Services, Minister responsible for the Canadian Wheat Board and Federal Interlocutor for Métis and Non-Status Indians, Lib.): Mr. Speaker, the internal audit that was conducted by the internal audit section of Public Works and Government Services Canada was an initiative launched by the department itself.