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Overall Performance Evaluation and Value-for-Money Audit (OPEA)
As part of its Funding Agreement with the Government of Canada, the CFI is required to carry out an overall performance evaluation of its activities and funded projects at least every five years. In 2007, the Government also required that a performance or value-for-money audit be completed by March 31, 2010. In order to reduce the reporting burden on institutions and to make the best use of human and financial resources, the CFI decided to conduct the two requirements simultaneously.
KPMG conducted an overall performance evaluation and value-for-money audit of the CFI and an international panel of seven experts in global research and research funding reviewed the findings and produced an independent report. The KPMG evaluation focused on the CFI’s achievements of the CFI against its national objectives and addressed global questions regarding relevance, results, and design and delivery. The audit looked at the CFI’s management practices and processes, and whether they have been carried out with regard to economy, efficiency and effectiveness.
The CFI’s success, with regards to the OPEA results, was recognized by several Parliamentarians in 2010.
