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 financial statements of the Agency Activities of the Canada Revenue Agency, which comprise the statement of financial position as at 31 March 2012, and the statement of operations and agency net financial position, statement of change in agency net debt and statement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with Canadian public sector accounting standards, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility My responsibility is to express an opinion on these financial statements 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 statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, 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 statements 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 overall presentation of the financial statements. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion. 80
Opinion In my opinion, the financial statements present fairly, in all material respects, the financial position of the Agency Activities of the Canada Revenue Agency as at 31 March 2012, and the results of its operations, changes in its net debt, and its cash flows for the year then ended in accordance with Canadian public sector accounting standards. Michael Ferguson, FCA Auditor General of Canada 28 August 2012 Ottawa, Canada 81
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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
Page 30 and 31: pre-payment review of GST/HST refun
Page 32 and 33: to 2.3% of Gross Domestic Product i
Page 34 and 35: Our performance measures for addres
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Page 38 and 39: [services] service complaints Our S
Page 40 and 41: Indicator 2010-2011 2011-2012 Chang
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Page 44 and 45: improving our human resources capac
Page 46 and 47: developed a strategy for managing t
Page 48 and 49: Board of Management Oversight Frame
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Page 52 and 53: [board’s priorities and accomplis
Page 54 and 55: [management of personnel] Against a
Page 56 and 57: [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: Canada Revenue Agency Audited Finan
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 and 108: Canada Revenue Agency Audited Finan
Page 109 and 110: Emphasis of Matter Without modifyin
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
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summary information as of March 31,
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1.5 Significant changes in fiscal y
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A delegated authorities matrix whic
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Control frameworks The CRA uses the
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The CRA will move into an ongoing a
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Canada Revenue Agency - Unaudited S
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$73.9 million for increased disburs
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Performance Summary (in thousands o
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Authorities approved after Main Est
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