Western Economic Diversification Canada
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Table 4: Audit Plan 2013-2014

Project, Scope, Objectives Audit Priority Rationale For Conducting Audit

1. Information Management

Assess the processes and controls in place to manage, protect, use and report on information critical to the department.

Very High

Score 11

Links to Corporate Risks
# 1-6

Links to Core Controls:
Governance
Policy & Programs
Citizen Focus
Risk Management
Stewardship
Learning/Innovation
Results/Performance

  • Significance
  • Management priority (RPP)
  • Critical element of every program and function within department

2. IT System Development Life Cycle (Change Management)

Assess the department’s key processes and practices around its life cycle management of its IT assets that are critical to its operations. The audit will focus on change and patch management of existing assets.

High

Score 8

Links to Corporate Risks
# 12,3,4,5

Links to Core Controls:
Governance
Citizen Focus
Risk Management
Stewardship
Accountability
Learning/Innovation

  • Large investment of resources
  • No previous audit
  • Critical enterprise systems support all departmental operations

3. Policy and Strategic Direction

Assess management mechanisms put in place to ensure sound governance, risk management and controls for successful program delivery mandate. Audit areas include among others:

Governance, structure and strategic direction

Management of key corporate functions: communications, ministerial support, executive services, etc.

Adequacy and effectiveness of delegation of financial and operational authorities

Reliability and integrity of financial and operational information

Performance reporting.

High

Score 9

Links to Corporate Risks
# 1 - 6

Links to Core Controls:
Governance
PS Values
Policy & Programs
Citizen-Focus
Risk Management
Stewardship
Accountability
Learning/Innovation
Results/Performance

  • In-depth operational coverage
  • Unique corporate roles housed in Ottawa and Edmonton within this branch
  • Alignment to corporate goals, priorities, efficiencies and effectiveness processes; and/or justified deviations
  • Corporate objectives & priorities congruence

4. Follow Up Audit: Governance

Effectiveness of the processes in support of corporate planning and results. Assess the alignment of strategic objectives, priorities and results. This is a follow up on the Audit of Governance conducted in 2008.

High

Score 9

Links to Corporate Risks
# 1-6

Links to Core Controls:
All

  • Leadership and strategic direction
  • Deputy Minister priority
  • Follow up on audit completed in 2008
  • Critical processes to set strategic direction

5. Western Diversification Program

This program is WD’s largest program authority and represents about 75% of the department’s core budget of grants and contributions. The program was audited comprehensively in 2009, so this audit will focus on compliance to authorities and TB policies.

High

Score 9

Links to Corporate Risks
# 2,3,4

Links to Core Controls:
Governance
Policy & Programs
Citizen Focus
Risk Management
Stewardship
Accountability
Results/Performance

  • Largest WD program
  • Compliance to program authorities
  • Compliance to TB policies

6. Repayable contributions

The 2009 audit of accounts receivable noted some legacy issues, but it has not been a significant issue due to WD’s focus on the not-for-profit sector. The Economic Action Plan returned WD into the profit sector and the possibility of repayable contributions.

High

Score 8

Links to Corporate Risks
# 1,2,3,5

Links to Core Controls:
All

  • Diminished human capacity in dealing with the for-profit sector
  • Complexity
  • Monitoring requirements
  • Management of receivables

7. Follow-up on past recommendations

Effective management action plans are implemented. Communicate any significant residual risk

Moderate

Score 7

Links to Corporate Risks
# 1 - 6

Links to MAF Element:
Risk Management
Stewardship
Accountability

  • Significance
  • Required by Policy
  • Residual risk associated with outstanding management action plans