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Internal Audit and Evaluation Documents

Final Report
November 2006

Prepared by:
PARAGON Review and Consulting Inc.

Report tabled and approved by the A&E Committee

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5. Conclusion

In general, we found that due diligence is being exercised in the management processes at the NNBFU over Revenue, Contracting, Use of Acquisition Cards, Payments to Suppliers, Expenditures for Travel, and Financial Coding and that processes and controls in place for these areas are adequate to mitigate the risk of non-compliance to TBS and PCA policies. For Safeguarding of High Risk Valuable Small Items, we found that the due diligence exercised in management processes over this area should be strengthened and that processes and controls in place for this area is weak in mitigating the risk of non-compliance to TBS and PCA policies. We have outlined our observations and our recommendations, where applicable, for the MCF over financial management and for each key financial process area examined in Section 6 of the report.


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