Les états financiers de la Caisse de dépôt et placement du Québec sont exacts

The financial statements of the Caisse de dépôt et placement du Québec are accurate. The Caisse points out that its investments are evaluated through a rigorous, audited process.

All financial statements are prepared according to Canada’s generally accepted accounting principles (GAAP). The Caisse’s cumulative annual financial statements and the annual statements for specialized portfolios and depositors’ funds are audited by the Auditor General of Quebec.

As well, when calculating returns, the Caisse complies with the Global Investment Performance Standards established by the Investment Performance Standards Policy Group and obtains a report from an independent auditor for this purpose.

The Caisse has informed Quebec’s Auditor General of allegations made in a forthcoming book entitled La Caisse dans tous ses états, by Mario Pelletier.

In addition to suggesting to readers that the Caisse’s results and financial statements have been subject to accounting manipulation, the author maintains that a number of assets, notably Vidéotron, were considerably depreciated at the end of 2002 in order to improve results in subsequent years. The Caisse would like to point out that in February 2006, the daily La Presse published a retraction after making similar allegations.

Accuracy of financial statements
For the Caisse, the accuracy of financial statements is crucial and must not leave any room for ambiguity. Alleging that the Caisse’s financial statements can be manipulated is not only false by is also likely to cause serious damage to the institution’s integrity, its processes and its employees, and to the confidence of its partners and its counterparts on financial markets.