Thank you, Mr. Chairman. The regional superintendent in Iqaluit advised me that there had been some discrepancies. The audit that is performed for the hamlet is done by a private auditing firm. They are reviewed by our staff in the region, but typically our staff don't have the formal accounting designations that the auditors have to actually conduct the audit.

The matter has been brought to my attention and we have had discussions between our director of finance and the auditors trying to resolve the matter, so that first and foremost we can put the correct answer in front of the hamlet council. At least at that point, we will know which answer is correct.

From that point, we may go back and try to determine why the error is made, but the first priority is to find out which answer is correct. Part of the problem is that the financial statements of the hamlets are becoming more and more complex. Part of the work that we have tasked a new position in our department with is to try to simplify the statements. There is a position in our finance department set up as part of the reorganization, responsible only for municipal evaluations on the financial side. I am hoping that we can create a much more straightforward process for the next round of year-end audits that take place. Thank you.