Public Sector Pension Investment Board Act
Marginal note:Annual auditor’s report
36. (1) The Board shall cause an annual auditor’s report to be prepared, in respect of itself and each of its subsidiaries, on
(a) the annual financial statements referred to in section 35;
(b) any revised financial statement referred to in subsection 37(3); and
(c) the record of investments referred to in paragraph 35(1)(c).
(2) A report under subsection (1) shall be addressed to the Board and shall
(a) include separate statements indicating whether, in the auditor’s opinion,
(i) the financial statements are presented fairly in accordance with generally accepted accounting principles,
(ii) the Board’s transactions and those of its subsidiaries that have come to the auditor’s notice in the course of the auditor’s examination for the report were in accordance with this Act and the by-laws, and the by-laws of the subsidiaries, and
(iii) the record of investments kept in accordance with paragraph 35(1)(c) fairly presents the information required by that paragraph; and
(b) call attention to any other matter falling within the scope of the auditor’s examination for the report that, in the auditor’s opinion, should be brought to the attention of the Board.
(3) An auditor preparing a report under subsection (1) shall make the examination that the auditor considers necessary for the purpose.
Marginal note:Auditing standards
(4) An auditor’s examination shall be conducted in accordance with generally accepted auditing standards, the primary source of which is the Handbook of the Canadian Institute of Chartered Accountants.
Marginal note:Reliance on internal audit
(5) In conducting an audit under this Act, an auditor shall rely on any internal audit conducted under subsection 35(3), to the extent that the auditor considers that reliance to be feasible.
Marginal note:Copy to Ministers
(6) Without delay on the completion of a report under this section, the auditor shall send a copy of it to the Minister, the Minister of National Defence and the Solicitor General of Canada.
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