The Financial Accountability Officer’s first annual report has two purposes. First, the report describes the office’s work since the FAO was appointed in March 2015 and second, the report explains the FAO’s plans for the office’s work in months and years to come. The FAO was created to provide MPPs with the economic and financial analysis that the Legislative Assembly needs to perform its constitutional duties of approving the government’s budget, reviewing and enacting legislation and scrutinizing the government’s activities. The FAO’s ability to perform this role depends on several elements guaranteed in the Financial Accountability Officer Act, 2013. The FAO enjoys independence from the government of the day, has a clear mandate that allows him to bring significant economic and financial matters to the Legislative Assembly’s attention while responding to its research needs, and is guaranteed access to nearly any information held by the Ontario government that he considers necessary to perform his duties. The FAO is currently implementing policies that build on his enabling legislation and draw inspiration from Canadian and international best practices in order to ensure his ability to perform the role for which his office was created by the Legislative Assembly.
Media inquiries - Kismet Baun, Communications Coordinator