ARCHIVED - Audit of Investment Planning

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Audit

The Canadian Food Inspection Agency's (CFIA) internal audit function provides the President, senior officials and agency managers with an independent capability to perform audits of the resources, systems, processes, structures and operational tasks of the CFIA. It helps the CFIA accomplish its objectives by bringing a systematic, disciplined approach to assessing and improving the effectiveness of risk management, control and governance processes.

The internal audit function is accountable to the CFIA's Audit Committee, of which the President is a member. All internal audit findings and recommendations must be reported to the Audit Committee, and all audits must be carried out in accordance with federal policy and legislative requirements, including the 2012 Policy on Internal Audit and the 2006 Federal Accountability Act.

CFIA internal audit projects are selected based on highest significance during an annual agency planning process, which are then reflected in the Agency's Audit Plan for review by Audit Committee and approval of the President.

Overview

The Treasury Board policy on Investment Planning - Assets and Acquired Services requires the Agency to submit an investment plan to the Treasury Board at least every three years. The plan must clearly set out Agency priorities and strategies for the upcoming five-year period, and outline a three-year investment function that meets the needs of the Agency within available resources.

The objective of the audit is to provide assurance that a management control framework is in place to effectively support integrated investment planning in a manner that is compliant with applicable Government of Canada requirements.

Key Findings

The audit confirmed that the CFIA has a management control framework in place to effectively support investment planning in a manner that is compliant with applicable Government of Canada requirements. A governance structure, methodologies to ensure proposals are aligned with strategic priorities and risk, and monitoring and reporting processes are in place.

The audit made four recommendations. Two of the recommendations are related to developing clearer guidelines for determining when investments should be included in the Investment Plan and when additional oversight provided by the Agency's project management framework is required.

The third recommendation concerns involving the Information Management and Information Technology Branch earlier in the planning process when a project will require IT support.

The last recommendation is for the establishment of a performance measurement system to assess the efficiency and effectiveness of the investment planning process and the annual overall performance of the Agency's Investment Plan.

The CFIA has accepted the conclusions of the audit and is taking action to address the four recommendations.

Complete report:

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