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Senate Accountability

Honourable senators, the Standing Committee on Internal Economy, Budgets and Administration has approved the first-ever audited statement of financial position of the Senate of Canada as of March 31, 2009. The audit was conducted in accordance with Canadian Generally Accepted Auditing Standards, GAAS, by the professional services firm of PricewaterhouseCoopers.

The audit resulted in an unqualified auditor's report indicating that the statement of financial position presents fairly, in all material respects, the assets, liabilities and equity accounts of the Senate of Canada as at March 31, 2009 in accordance with the Canadian Generally Accepted Accounting Principles, GAAP, for the public sector.

As Chair of the Standing Committee on Internal Economy, Budgets and Administration and on behalf of the members of the steering committee, Senator Furey, the deputy chair, and Senator Stewart Olsen, I want to thank the Director of Finance in the Senate's Finance Directorate, Ms. Nicole Proulx, and her team for their hard work in this achievement and for continually ensuring the efficient functioning of the Finance Directorate.

I also want to thank Senator Furey and Senator Stratton especially, on behalf of all senators, and all those who previously served on the Standing Committee on Internal Economy, Budgets and Administration for embarking on this new audit process in an effort to make the Senate more accountable.