Special examination reports sound operational practices by the Vancouver Fraser Port Authority
The Vancouver Fraser Port Authority released today the results of a special examination that was completed this year.
As required by the Canada Marine Act, Canada Port Authorities must undergo a special examination to evaluate their operational practices and processes. The examination assesses whether systems and practices provide reasonable assurance that the organization’s assets are safeguarded and controlled; its financial, human and physical resources are managed economically and efficiently; and its operations are carried out effectively.
The special examination of the Vancouver Fraser Port Authority was conducted by Ernst & Young for the period between January 2016 and March 2017. Results showed that there were no significant deficiencies in the books, records, systems and practices related to the focus areas examined.
The special examination report highlighted examples of good practices in each of the focus areas examined and the port authority was commended on the robust nature of its management practices.
About Vancouver Fraser Port Authority
The Vancouver Fraser Port Authority is responsible for the stewardship of the federal port lands in and around Vancouver, British Columbia. It is accountable to the federal minister of transport and operates pursuant to the Canada Marine Act. The Port of Vancouver is Canada’s largest, and the third largest in North America by tonnes of cargo, facilitating trade between Canada and more than 170 world economies. Located in a naturally beautiful setting on Canada’s west coast, the port authority and port terminals and tenants are responsible for the efficient and reliable movement of goods and passengers, integrating environmental, social and economic sustainability initiatives into all areas of port operations. Enabling the trade of approximately $200 billion in goods, port activities sustain 115,300 jobs, $7 billion in wages, and $11.9 billion in GDP across Canada.
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