GovernanceA CFO Perspective

FMI PD Week - November 27, 2008

2

CRA Governance

Board of Management

Minister

Commissioner and Chief Executive Officer

DG Corporate Audit and Evaluation

Senior Counsel, Legal Services

15 Assistant

Commissioners including the CFO

Agency Management Committee

3

Board of Management Structure

Board of Management

Audit Committee

Resources Committee

Governance Committee

Human Resources Committee

4

Agency Management Structure

Agency Management Committee

Human Resources Operations Strategic

Directions

ManagementAudit &

Evaluation

Resource & Investment

Management

5

CFO Contribution to Governance:Four Pillars

• Risk Management

• Resource Management

• Accounting and Reporting

• Internal Control

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Risk Management

• Risk Management Culture

• Corporate Risk Inventory and Action Plans

• Link to Strategic Planning

• Link to Resource Management

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Resource Management

Resource Allocation / Reallocation

Performance Targets / Performance Reporting

Strategic Investment Planning

Project Management

8

Accounting and Reporting

• Audited Financial Statements

• Management Discussion and Analysis

• Future-Oriented Financial Statements

• Unaudited Financial Information

9

Internal Control

Audit of Controls in a Service Organization

Statement of Internal Control / CFO Certification

Identity and Access Management

Internal Fraud

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Questions ?