What would Canadians say if this was Canada Post?

[Vader]

Do you suppose that David Anderson harboured any of the same conspiracy theories that have been put forward on this thread? Has the minister demanded any documents be handed over by the CWB for his and David's scrutiny? The minister is entitled to do these things. See section 9.0 (d) below. The legislation leaves no room for these ridiculous charges.

Accounts and Reports

Duties of the Corporation
9. (1) The Corporation shall

(a) keep proper books and accounts of its operations under this Act, showing such particulars as may be requisite for proper accounting in accordance with established accounting practice;

(b) with the approval of the Governor in Council, appoint a firm of chartered accountants for the purpose of auditing accounts and records and certifying reports of the Corporation;

(c) report in writing to the Minister as soon as possible after the end of each month, as at the close of business on the last day of that month, its purchases and sales of all grain during the month and the quantities of grain then held by it, the contracts to take delivery of grain to which it is then a party, all securities then held by it and the financial result of the Corporation’s operations as at the end of that month, which report shall be certified by the auditors of the Corporation;

(d) make such reports and furnish such information as the Minister may from time to time require; and

(e) in each year, on or before March 31 or such other date as the Governor in Council may fix, report to the Minister in writing, as at the close of business on the last day of the preceding crop year, its purchases and sales of all grain during that crop year, the quantities of grain then owned by it, the contracts to take delivery of grain to which it is then a party, all securities then held by it and the financial result of the Corporation’s operations as at the end of that crop year and such further information as the Minister may require, and the report shall be certified by the auditors of the Corporation.

Report to Parliament
(2) The Minister shall lay a copy of each report of the Corporation made under paragraph (1)(e) before Parliament on any of the first fifteen days that either House of Parliament is sitting after he receives it.

[AdamSmith]

Vader, your right, I'm wrong.

I was relying on the unammended version of the CWB Act.

Thank you for pointing me in the right direction here.

The Goodale Act created an unaccountable corporation removing it from the Financial Administration Act.

A corporation with no ownership structure thus no real owners and no escape provisions for those who fall into it's realm of jurisdiction.

Vader, is there any oversight other than the BOD's for how the contingency fund is managed? Does the CWB report to anyone what comes in and where it came from and what goes out and where it goes to? I read that requests are made to the Minister of Finance. Where does he fit in to this? Is there any regulations that require the BOD's to make full disclosure of the financial activity within the contingency fund.

The task force was correct in recommending reapealing the act all together. If ever a structure was created that would invite abuse and corruption this is it.

[craig]

I'm confused. This implies that the minister has access to all sales imformation and that he can issue the report to parliment yet at the same time this imformation is supposely confidential.If this was true in the Australian Wheat Board would the government minister responsible not be liable because he had access to this imformation but did not bring this to public light. I would also suggest that audited books do not always bring to light wrong doing. I'm sure in the case of the CWB most audit reports would include a disclaimer suggesting that the audit was done on the basis of imformation provided and done to the best of their ability. It still begs the question as to why the CWB does not want to be included in the freedom of imformation act. It suggests there is something to hide. I'm sure there is still a way to protect sensitive commercial transactions.

[AdamSmith]

Vader or Agstar77, I'll ask again, What kind of oversight exists other than the BOD's with respect to the contigency fund?

How are farmers to judge that the contigency fund is being managed in their best interests without full discloser?

The huge basis levels on all the acronym pricing options is a huge red flag.

The CWB can't ignore these questions forever. Especially when your asking for the contigency fund to be increased to 100 million.

[Vader]

Oversight is through the Audit and Finance Committee, the internal auditor, the external auditors, and final submission of business plan to the Minister.

[parsley]

And did the Minister agree with the suggestion of a $100M contingency fund?