Crown Corporations Subject to Part X of the Financial Administration Act
Crown corporations subject to Part X of the Financial
Administration Act (FAA) are required to prepare annual reports (including the
audited financial statements) and summaries of their approved corporate plans and budgets
for tabling in Parliament by the responsible Minister.
The annual report of each parent Crown corporation is to be submitted to the
responsible minister within three months after the end of the corporation's financial
year, and the minister shall have a copy of the report laid before each House of
Parliament on any of the first 15 days on which that House is sitting after the
minister receives the report.
Corporate plan, operating budget, capital budget or amended plan or budget summaries
that are required to be tabled in each House of Parliament are to be tabled on any of the
first 30 days on which that House is sitting after:
- in the case of a summary of a corporate plan or amended plan, the approval of the plan
by the Governor in Council in accordance with section 122 of the FAA;
- in the case of a summary of an operating budget, capital budget or amended
budget that is included in a corporate plan, the approval referred to in paragraph (a);
and
- in the case of a summary of an operating budget, capital budget or amended
budget, other than such a budget referred to in paragraph (b), the approval of the budget
by the Treasury Board in accordance with section 123 or section 124 of the FAA, as the
case may be.
The above reports, once tabled, stand permanently referred to the committee of
Parliament that has been designated or established to review matters relating to the
businesses and activities of the corporation submitting the report.
Crown Corporations Not Subject to Part X of the Financial Administration Act
Crown corporations that are not subject to Part X of the FAA must also have their
respective annual reports (including the audited financial statements) tabled in
Parliament. Other reporting requirements to Parliament by these corporations are governed
by the Act that established the corporation.
List of Current Crown Corporations
A list of Crown corporations and access to their web sites is available here.
President of the Treasury Board's Report
The President of the Treasury Board is required by Part X of the FAA to prepare and
table annually in Parliament a report that includes a list of all Crown corporations and
other corporations in which the Crown has an interest, employment and financial data, and
such other information that the President may consider relevant. The President's
Annual Reports are available by clicking on the specific report below:
|