CRA Annual Report to Parliament 2011-2012 (PDF - Agence du ...

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INDEPENDENT AUDITOR’S REPORT To the Board of Management of the Canada Revenue Agency and the Minister of National Revenue I have audited the accompanying statement of administered assets and liabilities of the Canada Revenue Agency as at 31 March 2012, and the statement of administered revenues and pension contributions, statement of administered expenses and recoveries and statement of administered cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information (together “the financial information”). The financial information has been prepared by management using the basis of accounting described in Note 2. Management’s Responsibility for the Financial Information Management is responsible for the preparation and fair presentation of this financial information in accordance with the basis of accounting described in Note 2; this includes determining that the basis of accounting is an acceptable basis for the preparation of the financial information in the circumstances, and for such internal control as management determines is necessary to enable the preparation of the financial information that is free from material misstatement, whether due to fraud or error. Auditor’s Responsibility My responsibility is to express an opinion on the financial information based on my audit. I conducted my audit in accordance with Canadian generally accepted auditing standards. Those standards require that I comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial information is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial information. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial information, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial information in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the presentation of the financial information. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion. Opinion In my opinion, the financial information presents fairly, in all material respects, the administered assets and liabilities of the Canada Revenue Agency as at 31 March 2012, and the results of its administered operations and its administered cash flows for the year then ended in accordance with the basis of accounting described in Note 2. 108
Emphasis of Matter Without modifying my opinion, I draw attention to Note 2 to the financial information, which describes the purpose and basis of accounting for reporting activities administered by the Canada Revenue Agency on behalf of others. This financial information may not be suitable for another purpose. Management prepares a separate set of financial statements to report the operational revenues and expenses of the Canada Revenue Agency. Michael Ferguson, FCA Auditor General of Canada 28 August 2012 Ottawa, Canada 109
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“Canadian businesses are a vital
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Finally, the Board continued to exa
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“The CRA has always been committe
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[our mission] ANNUAL REPORT 2011-20
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12 we issued 111 million benefit an
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Given the importance of the benefit
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[conclusion] During 2011-2012, we a
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value of the payments processed was
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[providing information] web site Th
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There has been a substantial increa
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[voluntary disclosures] The Volunta
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ANNUAL REPORT 2011-2012 we identifi
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Specialized program areas also use
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pre-payment review of GST/HST refun
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to 2.3% of Gross Domestic Product i
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Our performance measures for addres
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36 Draft - Protected B 5 November 2
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[services] service complaints Our S
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Indicator 2010-2011 2011-2012 Chang
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Draft - Protected B 5 November 2012
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improving our human resources capac
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developed a strategy for managing t
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Board of Management Oversight Frame
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[board’s priorities and accomplis
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[management of personnel] Against a
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[committee membership and director
Page 58 and 59: ANNUAL REPORT 2011-2012 CANADA REVE
Page 60 and 61: ANNUAL REPORT 2011-2012 [service st
Page 62 and 63: ANNUAL REPORT 2011-2012 Service Sta
Page 64 and 65: Claims - video and film tax credits
Page 66 and 67: challenges and exceptions advance i
Page 68 and 69: ANNUAL REPORT 2011-2012 [other item
Page 70 and 71: Benefit programs and benefit-relate
Page 72 and 73: D Dispute - General term to designa
Page 74 and 75: S Service standard - A public state
Page 76 and 77: ANNUAL REPORT 2011-2012 CANADA REVE
Page 79 and 80: Canada Revenue Agency Audited Finan
Page 81 and 82: Opinion In my opinion, the financia
Page 83 and 84: Expenses (note 8) Statement of Oper
Page 85 and 86: Statement of Cash Flows - Agency Ac
Page 87 and 88: 2. Summary of significant accountin
Page 89 and 90: (k) Contingent liabilities Continge
Page 91 and 92: (b) Reconciliation of net cost of o
Page 93 and 94: 6. Accounts receivable and advances
Page 95 and 96: 8. Segmented information - Expenses
Page 97 and 98: 10. Related party transactions The
Page 99 and 100: 12. Board of Management Pursuant to
Page 101 and 102: Financial Statements Discussion and
Page 103 and 104: Discussion and analysis Analysis of
Page 105 and 106: Non-financial assets Non-financial
Page 107: Canada Revenue Agency Audited Finan
Page 111 and 112: Canada Revenue Agency Statement of
Page 113 and 114: Canada Revenue Agency Statement of
Page 115 and 116: A new accounting standard issued by
Page 117 and 118: Expenses and Recoveries. Except for
Page 119 and 120: 5. Amounts payable to taxpayers The
Page 121 and 122: the CRA administers. It does not in
Page 123 and 124: 15. Pension contributions, interest
Page 125 and 126: Individual and Trust Income Tax Ind
Page 127 and 128: Income Tax Revenues - Individual an
Page 129 and 130: sales tax credits. This was partial
Page 131 and 132: summary information as of March 31,
Page 133 and 134: 1.5 Significant changes in fiscal y
Page 135 and 136: A delegated authorities matrix whic
Page 137 and 138: Control frameworks The CRA uses the
Page 139 and 140: The CRA will move into an ongoing a
Page 141 and 142: Canada Revenue Agency - Unaudited S
Page 143 and 144: $73.9 million for increased disburs
Page 145 and 146: Performance Summary (in thousands o
Page 147: Authorities approved after Main Est
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