Crown corporations late in reporting accounts
The majority of Crown corporations on P.E.I. aren't meeting their legislated deadlines when it comes to providing financial information to government and the public, says the province's auditor general.
In her 2013 report, Auditor General Jane MacAdam wrote some Crown corporations have been running years behind in their reporting, and she warns that diminishes accountability.
The report singled out Island Investment Development Inc. for being years behind in its reporting, Late last month, on the day MacAdam's report was tabled, Innovation Minister Allan Roach presented annual reports from IIDI dating back to 2009, reports that had never before been made public.
MacAdam said last year 17 Crown corporations and government agencies didn't meet legislated deadlines for providing financial statements to government, and 28 didn't make their annual reports public on time.
The legislation requires financial statements be delivered to government within 90 days of year end, and that an annual report be produced within six months of year end.
MacAdam said it's an issue of accountability, and Opposition leader Steven Myers agrees.
"The report never comes, then what opportunity do you have besides making a [freedom of information] request to get information out of the government?" said Myers.
"It's an accountability thing, it's a transparency thing."
Finance Minister Wes Sheridan is responsible for the Financial Administration Act, where the deadlines are contained. He said he has since made it clear to Crown corporations they have to get their financial information to government on time.
"The reasons that these are there are so we can make timely decisions," said Sheridan.
"How can we do that if we're receiving them six and nine months later? It's unacceptable."
As for releasing annual reports to the public, where many Crown corporations have been years behind, Sheridan said he didn't realize he was responsible for those deadlines until asked by CBC News. He said there'll be a bigger push on that in the future.