Receiver General Manual - Chapter 17 - Top of the page navigation
The following terms, in alphabetical order, are defined for the purposes of this chapter, as follows:
- Audited consolidated financial statements
- Audited consolidated financial statements of the Government of Canada appears in Section 2 of Volume 1 of the Public Accounts of Canada and consist of a consolidated statement of operations and accumulated deficit, a consolidated statement of financial position, a consolidated statement of change in net debt, a consolidated statement of cash flow and the notes to the consolidated financial statements of the Government of Canada.
- Chief Executive Officer
- The senior executive officer responsible for the management of a Crown corporation or other reporting entity.
- Chief Financial Officer
- The senior officer responsible for the financial affairs of a Crown corporation or other reporting entity.
- Consolidated Crown corporation
- A Crown corporation that relies on Government funding as its principal source of revenue.
- Crown corporation
- A corporation which at March 31, falls within the definition of Section 83 or Section 85 of the Financial Administration Act (FAA). These include the corporations listed in Parts I and II of Schedule III of the FAA as well as the Bank of Canada, the Canada Council for the Arts, the Canadian Broadcasting Corporation, the Canadian Race Relations Foundation, the International Development Research Centre, the National Arts Centre Corporation and Telefilm Canada. It also includes any unconsolidated wholly-owned subsidiaries.
- Enterprise Crown corporation
- A Crown corporation that is able to raise substantial portions of its revenues through commercial business activities outside of the Government reporting entity and is self-sustaining.
- External auditor
- The Auditor General of Canada and any other independent professional accountant engaged by the Government, a Crown corporation or other reporting entity to examine and report on financial data, records, accounts, systems or statements.
- Government of Canada (Government)
- As a reporting entity, the Government of Canada comprises all organizations that are controlled by the Government.
- Letter of representation
- A certificate which contains representations made by the Chief Executive Officer and the Chief Financial Officer of a Crown corporation or other reporting entity to the signatories of the consolidated financial statements of the Government of Canada and to the Auditor General, confirming management's responsibility for the proper recording of financial transactions in the accounts of Canada, if applicable, and for the proper reporting of financial information to be included in the Public Accounts of Canada.
- Other consolidated entities
- Other reporting entities, as defined below, who rely on Government funding as their principal source of revenue.
- Other reporting entities
- Organizations not listed in the FAA that meet the definition of control for financial reporting purposes. These organizations are included in the Government reporting entity if their revenues, expenses, assets or liabilities are significant.
- Other Government business enterprises
- A corporation that is not considered a Crown corporation, within the meaning of the FAA, but which is controlled by the Government and in most cases accountable to Parliament through a Minister of the Crown for the conduct of its affairs. It is however, not dependent on parliamentary appropriations and is able to raise substantial portions of its revenues through commercial business activities outside of the Government reporting entity and is self-sustaining. Refer to Appendix A for a list of other government business enterprises.
Receiver General Manual - Chapter 17 - Bottom of the page navigation
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