Compositional Audit Report

performance audit [ performance auditing | sound financial management audit | value for money audit | value-for-money audit | VFM ]

financial audit [ financial auditing | regularity audit | regularity auditing ]

eco-audit | environmental audit | environmental auditing | green auditing | internal environmental audit

information technology audit | computer audit | computer auditing | EDP audit | electronic data processing audit | information systems audit | IS audit | IT audit

management audit | management auditing | operational audit | operational auditing | performance audit | performance auditing

But the requirement for, and composition of, audit committees is also a corporate governance issue.

Such a Recommendation will define minimum standards applicable to the creation, composition and role of the nomination, remuneration and audit committees.

(i) the standard of review to be applied by audit committees in their review of documents filed under Canadian securities law, (ii) the certification or other evidence of review by audit committees, (iii) the scope and content of an audit committee's review, and (iv) the composition of audit committees and the qualifications of audit committee members, including independence requirements;

Especially in the crown corporations, I would go back to basic principles, such as the composition of the boards, the expertise that's on the boards and are they able to bring in outside experts to help them assess what management is telling them, and what kind of oversight, the standard, really good management practices around construction or development projects, periodic independent reviews, which could be from internal audit—it doesn't necessarily have to be from the external audit—of the information that is being provided to the board and to government.