Office of the Superintendent of Financial Institutions
Economic and financial conditions have a significant impact on the environment within which financial institutions operate. A clear understanding of the risks emanating from the economy and financial systems ensures that effective regulatory and supervisory actions are undertaken.
Increasing the effectiveness of supervision is a key pillar of the FSB's efforts to reduce risk in the financial system. In order to remain effective as a supervisor, OSFI must continue to evolve and enhance its supervisory practices in response to changes in the economy and the financial system as well as to meet rising international standards.
The global regulatory agenda is changing rapidly. A clear understanding of developments ensures that appropriate actions are undertaken by OSFI to maintain an effective Canadian regulatory framework that continues to be responsive to international reforms.
Accounting, Auditing and Information Disclosure Reforms:
Focusing on the learning and development of OSFI employees and enhancing their ability to plan for and adapt to change will allow for continuing to successfully meet OSFI business goals.
Continuous strengthening of internal systems, processes, and controls will enable OSFI to work more effectively and efficiently.
For further information on OSFI’s plans and priorities see OSFI’s 2014-2015 Report on Plans and Priorities at the following link: