On January 12, 2006, the Canadian Taxpayers Federation (CTF) distributed a commentary which contained incorrect information. The Office of the Auditor-General of Canada has the power to audit most Crown corporations, such as the Canadian Broadcasting Corporation and the Canada Mortgage and Housing Corporation. Under the Financial Administration Act, these Crown corporations must undergo a performance audit every five years. In addition, their financial statements are audited annually. The federal government's budget implementation bill (Bill C-43), which received Royal Assent on 29 June, 2005, expanded the auditor-general's mandate further to include audits of foundations and all Crown corporations, except for the Bank of Canada and the Canada Pension Plan Investment Board.

The CTF regrets its error.


John Williamson

Federal Director