2025 to 2026 Annex to the Statement of Management Responsibility Including Internal Control over Financial Reporting (Unaudited)
1. Introduction
In support of an effective system of internal control, the Financial Consumer Agency of Canada (FCAC) conducted self-assessments of key control areas that were identified to be assessed in the 2025-26 fiscal year. A summary of the assessment results and action plan is provided in subsection 2.
FCAC will assess all key control areas over five years. The assessment plan is provided in subsection 3.
2. Assessment results during fiscal year 2025-26
The Office of the Comptroller General paused the mandatory self-assessments for fiscal year 2025-26. FCAC chose to complete the assessment of key control areas as indicated in the following table. A summary of the results, action plans, and additional details are also provided.
Key control areas
Acquisition cards
Remediation required
Yes
Summary results and action plan
Strong controls are in place. Future card approvals will explicitly reference standard spending limits.
Key control areas
Leave
Remediation required
Yes
Summary results and action plan
Establish reminder mechanisms to promote timely submission and approval of leave.
3. Assessment plan
FCAC will assess the performance of its system of internal control by focusing on key control areas over a cycle of three years as shown in the following table.
| Key control areas | 2026-27 |
2027-28 |
2028-29 |
|---|---|---|---|
| Acquisition cards | X | ||
| Transfer payments | N/A | ||
| Potential topic: Delegation of Spending and Financial Authorities | X | ||
| Potential topic: Contracting | X |