Absolutely. It's a positive report. It is one of the most positive reports coming out of the Office of the Auditor General. The other thing I'd like to address is the issue of the effectiveness reviews of the overall regulatory framework.
Madame Faille talked about one aspect of it: bank penalty charges. There are many aspects. It's a large, complex framework. It is subject to review once every five years. The Bank Act review is coming up in April 2012. We think it would be useful for SAC and the government to have a plan to prepare information to feed into that legislative review. It would tell us what parts of the framework are working well, what parts might need to be studied, and what parts could perhaps be improved. This would be useful information for government initially, and then eventually for parliamentarians as they consider changes to the legislation.
Part of our recommendations deal with terms of references. They also talk about preparing information on the effectiveness of the framework, that is, which aspects could be studied, which aspects need additional information to determine their effectiveness. That's the reason for our recommendation.
Mr. Horgan is the chair of SAC. Mr. Horgan is a Deputy Minister of Finance. I accept his right to say that they considered the Auditor General's recommendation and decided not to implement it. Nevertheless, I think the Office of the Auditor General's view remains that we think these are good ideas.