Posted by & filed under Auditing, Corporate Governance.

Description: Cooperation between governments is a good thing. And in Atlantic Canada, the four provinces have cooperated for years as shareholders in one gambling organization, the Atlantic Lottery Corporation (ALC). This week, however, an audit report issued by the four auditors general of the Atlantic provinces concluded that the four provinces need to do a better job in governing ALC. One symptom of this weak governance has been very healthy increases in executive salaries without shareholder oversight.

Date: October 26, 2016

Source: cbc.ca

Link:

http://www.cbc.ca/news/canada/prince-edward-island/pei-new-brunswick-atlantic-lotto-auditor-general-1.3821231

Extended radio interview portion @:

http://www.cbc.ca/listen/shows/information-morning-fredericton/segment/10600842

Discussion Points:

1) What were your impressions from reading this story or listening to the two interviews on the ethics of the giveaways?

2) How do you think the four provinces could work together to improve the way the organization is governed?

3) What might be some of the challenges four different audit offices would face in working together to carry out one audit?

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