Auditor General of Canada tables 2019 Special Examination of the Canadian Commercial Corporation
July 17, 2020
On July 8, 2020, the Auditor General of Canada tabled in Parliament the 2020 Spring Reports of the Auditor General of Canada to the Parliament of Canada, which included the Auditor General of Canada to the Board of Directors of the Canadian Commercial Corporation—Special Examination—2019.
Overall, the Auditor General of Canada (OAG) “found no significant deficiencies in CCC’s systems and practices.” The OAG “found that the Corporation had well-managed systems and practices for both corporate management and operations, and noted areas that could be improved”, including establishing systematic processes at the business unit level for planning operations and identifying risks. The OAG also found that that “the Corporation’s due diligence processes for transactions did not adequately consider human rights issues.”
CCC is committed to ensuring that human rights, transparency, and responsible business conduct are core principles as we deliver our mandate. Since 2019, CCC has completed an important update to its policies and procedures for transactional due diligence to ensure that human rights, transparency, and responsible business conduct are integrated on a systematic basis.