Fiscal year 2023-2024 - Annex to the Statement of Management Responsibility Including Internal Control over Financial Reporting - Unaudited

2.1 Internal control management

The CSA has a well-established governance and accountability structure to support departmental assessment efforts and oversight of its system of internal control.

A departmental internal control management framework is in place and comprises:

• Organizational accountability structures as they relate to internal control management to support sound financial management, including the roles and responsibilities of senior departmental managers for control management in their areas of responsibility.
• Values and ethics.
• Ongoing communication and training on statutory requirements, and policies and procedures for sound financial management and control.
• Risk-based monitoring and regular updates on internal controls, with an approved annual evaluation plan, results communicated to senior departmental management and an action plan required to address highlighted weaknesses.

The Departmental Audit Committee (DAC) receives a summary of findings and action plans twice a year. DAC provides advice to the deputy head on the adequacy and functioning of the department's risk management, control and governance frameworks and processes.

2.2 Service arrangements relevant to financial statements

The CSA relies on other organizations to process and capture certain transactions that are recorded in its financial statements, the following are the main services provided:

3.1 New or significantly amended key controls

In the current fiscal year, there were no significant changes in existing business processes requiring a reassessment of key controls. The future of work at the CSA will be hybrid, working from home and the office. We continue to encourage electronic documentation of controls to facilitate access and review when possible.

3.2 Ongoing monitoring program

As part of its rotational ongoing monitoring plan, the CSA completed its reassessment of internal control over financial reporting and internal control over financial management for all identified processes within the plan.

For the most part, the key controls that were tested performed as intended and were shown to be operating effectively to ensure the production of reliable financial information, recommendations were shared when needed. No significant deficiencies or material weaknesses that could lead to a material misstatement of the financial statements were identified.