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Costing Process in support of CFO Attestation

This guide provides practical application and step-by-step instructions on the costing process in support of CFO attestation, as outlined in the Federal Accountability Act. It covers the background, guidelines, and components involved in the costing process, and emphasizes the need for documentation and assurance. Training requirements for the costing process are also discussed.

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Costing Process in support of CFO Attestation

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  1. Costing Process in support of CFO Attestation 22 February 2016 Vrenti Ghergari, CPA, CMA, CCEA

  2. Agenda Background Costing Process CFO Attestation Guide Practical Application

  3. Introduction Federal Accountability Act – 2006 Established Deputy Ministers as accounting officers Policy on Financial Management Governance - 2010 Outlines the role of the CFO Financial management, program financing, financial reporting and disclosure Guideline on Chief Financial Officer Attestation for Cabinet Submissions – 2014 Six fundamental assertions Guideline on Cost Estimation for Capital Asset Acquisitions – 2015 Outlines the costing process

  4. Review, Analyze & Update Plan Approach Develop Cost Model Present Provide Assurance Establish GR&As Costing Process Components Not Necessarily Sequential Many activities are iterative and can be accomplished in varying order or concurrently! Each Component must be Documented! Cost Estimate = Model + Documentation Assistant Deputy Minister (Finance) Sous-ministre adjoint (Finances)

  5. Training Requirements for the Costing Process Program Knowledge Canada School of Public Service Project Approval Course (DND specific) Technical Knowledge CEBoK

  6. Annual Update 2014 Excerpt

  7. Questions?

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