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Audit Report on Travel and Hospitality
Background
The A&CS internal audit plan as approved by FCAC management includes an audit of FCAC travel and hospitality (T&H) practices.
As a separate employer, FCAC has the authority to develop its own travel and hospitality policies. This authority was granted in the Financial Consumer Agency of Canada Act. FCAC has chosen to adopt the travel and hospitality policies established by the Treasury Board Secretariat (TBS).
FCAC employees and RC Managers have the primary responsibility for application of T&H policy. FCAC Administrative Services, with OSFI Finance, is responsible for maintaining the control framework for processing claims and monitoring application of Policy through checks of submitted claims. The OSFI Finance group processes and reports on T&H expenses, and maintains on behalf of FCAC documentation and financial records under an MOU between FCAC and OSFI Finance.
The profile of the $120,251 in T&H expenditures for the fiscal year ended March 31, 2004 shows that the major expenditures were incurred by Public Affairs (28.5%) and Executive Services (25.5%). Of the total T&H expenditures, hospitality expenses (4%) were nominal compared to Transportation / Airlines (48%) and Other Costs (48%).
Travel within Canada represented 93% of total Travel expenditures, with the remaining 7% being International and US travel.
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