OTTAWA — The small business loan program the federal government rolled out during the COVID-19 pandemic wasn't managed with "due regard for value for money," auditor general Karen Hogan said Monday.
At the same time, it says the federal government didn't provide effective oversight to ensure the program was cost-effective.Hogan told reporters she is "concerned that EDC only partially agreed with our recommendation that it should carry out additional work to identify all ineligible recipients and recover the amounts involved."
"The initial contract awarded for the call centre was expected to last four months and cost $2.78 million. However, as of March 31, 2024, the call centre was still operating with a cumulative total cost of approximately $23.2 million," the report outlines.