Audit Reveals Oversight Failures in Canada’s Pandemic Loan Program

Canada’s Auditor General finds mismanagement in $313 million of sole-source contracts awarded to Accenture for administering the CEBA program.

The Canada Emergency Business Account (CEBA) provided nearly 900,000 small businesses with interest-free loans during the pandemic, with $3.5 billion in loans going to ineligible applicants.
Export Development Canada (EDC), responsible for administering CEBA, heavily relied on sole-source contracts with Accenture, which received 92% of the $313 million in administrative spending.
The audit found Accenture had excessive control over contract scope and pricing, including awarding a $36 million contract to its own subsidiary, raising conflict-of-interest concerns.
Significant discrepancies in contract management were uncovered, including inflated call center costs and hourly rates, with EDC failing to verify expenses or ensure value for money.
The government defended CEBA’s rapid rollout during a crisis but acknowledged the Auditor General’s recommendations for improved oversight and transparency in future programs.