Annual Financial Report 2001-2002: 6
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Report of the Auditor General
on the Condensed Financial Statements
of the Government of Canada

To the Minister of Finance:

The accompanying condensed statements of revenues, expenditures and accumulated deficit, assets and liabilities and changes in financial position are derived from the complete financial statements of the Government of Canada as at March 31, 2002, and for the year then ended on which I expressed an opinion without reservation in my Report to the House of Commons dated September 16, 2002.

My Report drew two matters I have raised before to Parliament’s attention: a concern about the Employment Insurance Account, and the recording of transfers to Foundations. For more complete information, readers should refer to my Report, which will be included in Volume I of the 2002 Public Accounts of Canada, expected to be tabled in the House of Commons later this year.

The fair summarization of the complete financial statements is the responsibility of the Government. My responsibility, in accordance with the applicable Assurance Guideline of The Canadian Institute of Chartered Accountants, is to report on the condensed financial statements.

In my opinion, the accompanying condensed financial statements fairly summarize, in all material respects, the related complete financial statements in accordance with the criteria described in the Guideline referred to above.

Since these are condensed financial statements, readers are cautioned that these statements may not be appropriate for their purposes. For more information on the Government’s financial position, results of operations and changes in financial position, reference should be made to the related complete financial statements, which will also be included in Volume I of the 2002 Public Accounts of Canada.

 Original signed by

Sheila Fraser, FCA
Auditor General of Canada

Ottawa, Canada
September 16, 2002

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