The Standing Committee noted that the NWT Development Corporation (DevCorp) underwent a complete turnover of senior management in April 1999. The investment decisions referred to in this and the Auditor General's report were all made by the previous management.

The committee members recognize efforts by the current management to rectify problems at the DevCorp and acknowledge that most of the difficulties were due to the previous management. As a result, the Standing Committee on Accountability and Oversight encourages the Northwest Territories Development Corporation to continue vigilant efforts to resolve existing difficulties and deliver its mandate.