Audit scolds Bank of Canada

Internal auditors have criticised the Bank of Canada for slack financial practices, according to a report by the Canadian Press.

Employees of the central bank paid invoices without authorization, did not evaluate whether they got good value from suppliers and violated a fail-safe system meant to guard against cheque fraud, the report said.

The findings appear in two newly released audits from 2004, both obtained under the Access to Information Act.

In an Oct. 15 report, auditors sampled 64 invo