Internal Audit

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Internal Audits (April 1, 2013 – March 31, 2014)

1. Name of internal audit 2. Internal audit type 3. Status 4. Completion date
Supervision Sector: Deposit Taking Institutions – Conglomerates Risk Assessment & Intervention Completed May 2013
Supervision Sector: Property & Casualty Group Risk Assessment & Intervention Completed May 2013
Corporate Services: Learning & Development (Formerly Training & Development) Human Resources Completed June 2013
Corporate Services: Security and Administrative Services (formerly Security Services Unit) Governance Completed November 2013
Superintendent’s Office: Internal AuditFootnote 1 Quality Assurance Completed January 2013
Corporate Services: Finance Governance In Progress April 2014
Supervision Sector: Deposit-Taking Group – Non-Conglomerates Risk Assessment & Intervention Completed March 2014
Supervision Sector: Life Insurance Group – Conglomerates Risk Assessment and Intervention Completed October 2013
Supervision Sector: Deposit-Taking Group – Risk Measurement Analytics and Assessment Risk Assessment & Intervention Completed September 2013
Regulation Sector: Actuarial Division Risk Assessment & Intervention In Progress Q1 2014/15
Regulation Sector: Private Pension Plans DivisionFootnote 2 Risk Assessment and Intervention (Supervision) In Progress Q3 2014/15

OSFI’s Internal Audit group conducts regular internal audits. The Internal Audit Plan is recommended for approval one year at a time by the Audit Committee and approved by the Superintendent. The 2014-15 to 2016-17 Internal Audit Plan was approved in Q3 2013-14. The audit plan is subject to change from year to year depending on changes to priorities or in the business.

Footnotes

Footnote 1

OSFI is not required by the Treasury Board Secretariat Policy Suite on Internal Audit to post Practice Inspection reports, as such, this Practice Inspection on Internal Audit was not published externally.

Return to footnote 1

Footnote 2

The Internal Audit on Private Pension Plans Division is part of the 2014-15 Internal Audit Plan; however this audit was started in Q4 2013-14.

Return to footnote 2

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