Internal Audit provides independent, objective
assurance services designed to add value and improve the Agency’s operations.
The internal audit activity helps the Agency accomplish its objectives by
bringing a systematic, disciplined approach to evaluating and improving
the effectiveness of its risk management, control and governance processes.
Assurance services are provided through audit engagements, which in turn
provide the Agency’s President and other senior managers with objective
examinations of the soundness of risk management strategies and practices,
management control frameworks and practices, and information for decision
making and performance reporting.
Audit engagements are structured to the specific needs of the Agency,
as determined through risk assessment analysis and consultation with senior
management. The types of engagements conducted include:
Compliance Audit – is carried out to determine whether
the Agency has complied with specific policies, plans, procedures, guidelines,
regulations or contracts that affect the organization. There must be
established criteria against which the compliance can be measured to
successfully complete a compliance audit.
Program Management Audit – provides management with
an independent assessment of the project management function, the processes
for dealing with project risks and the quality of work performed by
the project management team.
Comprehensive Audit – is a combination of a compliance
audit and program management audit.
Review/Study – is normally undertaken by management
to examine a specific issue related to a program, policy or initiative.
It uses some established audit methodology, but does not require the
application of rigorous auditing practices.
ACOA also conducts assessments of the relevance, success
and cost-effectiveness of our programs and initiatives. These evaluation
reports provide ACOA management with relevant, timely and objective information
to guide decision-making. We consider performance measurement and evaluation
reporting to be critical to the successful, sustainable development of policy,
programs and operations.
Some reports listed are linked to a summary of the audit or evaluation. To request a full copy of a particular report, click here.