Pension Plan Financial Statements Audit
for the year ended March 31, 2005
Final Report
April 2006
Internal Audit

Executive Summary
As part of the Annual Risk Based Audit Plan, Internal Audit completed an audit of the Pension Plan financial statements for the fiscal year ended March 31, 2005 . The purpose of the audit was to provide reasonable assurance that the RCMP Pension Plan financial statements for fiscal year 2004/2005 were fairly stated in all material respects and were consistent with relevant policies, procedures and regulations.

Given that Internal Audit’s mandate is limited to systems, processes and records within the RCMP, the scope of the audit excluded the employee contributions, calculated by PWGSC, and the accrued pension benefits, including actuarial adjustments, calculated by OSFI.

Due to the nature and the extent of the scope limitations mentioned above, Internal Audit can not conclude on the overall fairness of the RCMP Pension Plan financial statements for the fiscal year ended March 31, 2005.

However, based on our audit work, we conclude that there were no significant weaknesses in the financial controls surrounding the processing of transactions and the presentation of financial information related to the Pension Plan.

More specifically, we conclude that:

• Investments were appropriately valuated and presented in the Pension Plan financial statements;
• Contributions were appropriately presented in the Pension Plan financial statements with the exception of employer contributions and the accrued investment income upon transfers to/from the Plan;
• Benefits were accurately measured and appropriately presented in the Pension Plan financial statements;
• Administrative expenses were accurately measured and appropriately presented in the Pension Plan financial statements;
• Accrued pension benefits were appropriately presented in the Pension Plan financial statements; and
• Activities are compliant with relevant policies, procedures and regulations.

To read Adobe Acrobat files, you may need to download and install the free Adobe Reader available from Adobe Systems Incorporated

To obtain an electronic copy of the complete report (PDF) or if you would like to receive this report in an alternate format, please send a request by e-mail to the Internal Audit, Evaluation and Review section of the RCMP: