Western Economic Diversification Canada
www.wd-deo.gc.ca
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Conclusions
Based on the results of the work completed and by reference to the Audit Rating Results (see Appendix D) the control environment and loans tested at all WEI centres would be assessed as Satisfactory.
Further, the results of the interviews conducted, review of documents and loan testing indicate that:
- There appears to be an appropriate level of oversight (including administration, due diligence, follow up, performance measurement and reporting) for the WEI program;
- The WEI program is being administered in accordance with the requirements of the Contribution Agreement with WD;
- Loans granted appear to meet the WD criteria of the Contribution Agreements;
- Funding appears to be spent on appropriate activities that meet the mandate of WEI;
- Each WEI has adequate management controls and governance;
- Policies and procedures are in place and appear to be followed;
- Stacking may occur amongst WEI and other federal government programs; and
- Activity statistical data appears to be valid, although rules of how to measure and record statistics may not be consistent across the regions.
