September 14, 2004: Fraser River Port Authority has successfully undergone its first Canada Marine Act Special Examination. The review found “there is reasonable assurance that there are no significant deficiencies in the systems and practices” that were examined, and that the Port Authority’s assets were safeguarded and well controlled.

The examination, finalized in the spring of 2004 by Grant Thornton LLP, looked at the financial and managerial control and information systems and management practices of the Port Authority.

“We’re very pleased with the whole process,” said Captain Allen Domaas, President and CEO of the Fraser River Port Authority. “We found it a very worthwhile endeavor which led to very useful recommendations for future improvement on everything from training to our communication with the surrounding citizenry about infrastructure issues.”

In accordance with the Act, Canada Port Authorities are required to undergo a special examination at least once every five years to ensure they are meeting their requirements to keep and maintain books, records, systems and practices in a manner that provides reasonable assurance that:

• The assets of the Port Authority are safeguarded and controlled;
• The transactions of the Port Authority are done in accordance with the Act, their letters patent, and their by-laws; and,
• The financial, human and physical resources of the Port Authority are managed economically and efficiently, and the operations are carried out effectively.

In consultation with the Port’s Board of Directors, the examiners looked at six areas of interest:

• human resources
• dredging
• governance
• urban infrastructure
• internal processes, and
• property development

The final report to Canada’s Minister of Transport is available for viewing upon request during normal business hours, at the Fraser River Port Authority office, 500 - 713 Columbia Street, New Westminster, BC V3M 1B2. It is also available online at www.fraserportauthority.com

Special Examination Final Report (321 KB)