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|Internal Audit Recommendations||Management Response to the Recommendation||Action(s) to be taken||Estimated Completion Date||Responsibility|
|1. Management should reinforce the rigour associated with the governance related to the acquisition process to support management decisions.||Management agrees with the recommendation.
LAC has implemented a new COO model. Within this restructuring, there will be new roles and accountabilities for various groups. Therefore, a revised governance structure with appropriate controls that support management decisions is needed to support this new organizational structure and workflows.
|Management will establish a governance (including decision-making) structure with appropriate controls that support management decisions. A revised procedure will be developed and will include quality control mechanism and approach.
Pending completion of the above procedure and control mechanisms, an interim process was put in place in February 2012 which includes additional reviews and approval steps (DG, COO, CFO).
|Governance structure and revised procedure drafted by December 2012, communicated to staff and implemented by April 2013.||DG, Documentary Heritage Relevance Assessment|
|2. Management should reinforce the rigor associated with the application of the controls and define the expected documentation requirements that must be retained in each donation file to support key controls. In addition, management should establish a quality control process to ensure that all required documentation has been properly completed.||Management agrees with this recommendation.||A revised procedure will be developed and will include the revised required documentation. In addition, this procedure will include a quality control mechanism and approach.
The approval process will be done electronically using the SharePoint system which will include all required documentation.
|A revised procedure for delegations will be drafted by December 2012, communicated to staff and implemented by April 2013.||DG, Documentary Heritage Relevance Assessment|
|3. Management should ensure that monitoring reports are regularly prepared and reviewed. These reports should provide sufficient information to ensure donations are aligned with LAC's mandate.||Management agrees with this recommendation.
Alignment to LAC's mandate:
LAC continues to develop an integrated approach to its acquisitions based on its mandate and the whole-of-society approach. All acquisitions will be aligned to this approach and will need to be validated throughout the various components of the model. This has already started but will be formalized in 2012-2013.
Reporting on monetary evaluations:
Given the protected nature of information relating to tax matters, quarterly reports containing detailed case information will be restricted to those responsible for operations (CFO, DG and Director, Appraisal and Acquisition.)
A more generic annual report, reporting on overall trends relating to donations for tax appraisal, and indicating any policy or process issues that require attention will be prepared for more general use within LAC.
|Quarterly reporting to senior management of the monetary evaluations.
Annual report on acquisitions and monetary assessment conducted during the year (content TBD).
|DG, Documentary Heritage Relevance Assessment|