Tag: EDC

PRESS RELEASE Export Development Canada keeps taxpayers in the dark, says Rosen and Associates Limited

(June 14, 2005) A report by one of Canada’s leading forensic accounting firms, Toronto-based Rosen and Associates, criticizes the 2003 annual report of Export Development Canada for not differentiating between commercial and politically-mandated activities. EDC is a crown corporation that in 2003 backstopped $51.9 billion in exports and international investments by Canadian enterprises. The Rosen and Associates study focused on the financial reporting relating to EDC’s loan portfolio.

Corruption goes unpunished

(November 5, 2003) A Canadian public lending agency that lobbied in defence of Acres International, the first multinational to be convicted in the landmark corruption trials currently underway in the southern African state of Lesotho, has said it will not bar the Canadian engineering giant from future contracts.