122. (1) An examiner shall, on completion of a special examination in respect of an institution, submit a report on his or her findings, and a summary of that report, to the Minister and to the board of directors of the institution.
(2) The report of an examiner shall include
(a) a statement whether in the examiner’s opinion, having regard to the criteria referred to in subsection 119(2), there is a reasonable assurance that there are no significant deficiencies in the systems and practices examined; and
(b) a statement of the extent to which the examiner relied on internal audits.
Marginal note:Posting of report
(3) An institution shall, as soon as possible after receipt of an examiner’s report, post a summary of the report on an Internet website maintained by the institution.
123. (1) Subject to subsection (2), a special examination shall be carried out by the auditor of the institution.
Marginal note:Other auditor
(2) If, in the opinion of the Minister, a person other than the auditor of an institution should carry out a special examination in respect of the institution, the Minister may, after consulting with the board of directors of the institution, direct that the examination be carried out by another auditor who is qualified for the purpose.
Marginal note:Consultation with Auditor General
124. The auditor or examiner of an institution may at any time consult the Auditor General of Canada on any matter relating to an audit or special examination.
Marginal note:Right to information
125. (1) At the request of the auditor or examiner of an institution, the present or former commissioners, directors, officers, employees or agents of the institution shall provide any information and explanations, and give access to any records, documents, books, accounts and vouchers of the institution that are under their control, that the auditor or examiner considers necessary to prepare a report required under this Act.
Marginal note:Obligation to inform
(2) If a commissioner or director of an institution does not have information or an explanation requested by an auditor or examiner under subsection (1), the commissioner or director shall obtain the information or explanation and provide it to the auditor or examiner.
126. Nothing in this Part or in any directions of the Minister shall be construed as authorizing the auditor or examiner of an institution to express any opinion on the merits of matters of policy, including the merits of
(a) the objects or purposes for which the institution was established or the restrictions on the businesses or activities that it may carry on, as set out in this Act; or
(b) any business or policy decision of the institution.
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