Follow-up Audit of the Atlantic Innovation Fund – Program Management Report – Fiscal Year 2003/04 Audit Directorate Final Report March 2006 TABLE OF CONTENTS OBJECTIVES .................................................................................. 1 SCOPE............................................................................................ 1 METHODOLOGIES......................................................................... 1 AUDIT RESULTS ............................................................................ 1 Post-Payment Audits (PPAs) – MAP recommendation 2.......... 1 Resources – MAP recommendation 3....................................... 2 Management of the Program (Client Service Standards) – MAP recommendation 4............................................................ 3 Delegation of Authority – MAP recommendation 5 ................... 4 OVERALL CONCLUSION............................................................... 6 Audit Directorate Follow-up Audit of the Atlantic Innovation Fund – Program Management Report – Fiscal Year 2003/04 Management Letter OBJECTIVES The objectives of this follow-up engagement were to: • Identify the recommendations from the AIF Audit of Program Management and determine the risk associated with each; • Review and document the actions taken by management in response to ...