The Standing Senate Committee on National Finance has the mandate to examine matters relating to federal estimates generally, including the public accounts and reports of the Auditor General; as well as government finance. In addition, the committee has investigated other topics of interest and importance to the country.
The Standing Senate Committee on Internal Economy, Budgets and Administration has the mandate to consider all matters of a financial or administrative nature relating to the internal management of the Senate. It reviews and authorizes the budget applications of committees and sets guidelines and policies on items such as senators’ travel and office and research expenditures. It should be noted that unlike most Senate committees, the committee is authorized to carry out its mandate on its own initiative rather than being dependent on an order of reference from the Senate. (Rule 12-7.(1)). Under the Parliament of Canada Act, the committee also has an intersessional authority, allowing it to continue to meet and act during a period of prorogation or dissolution.
The Standing Senate Committee on Banking, Trade and Commerce has the mandate to examine legislation and to study issues related to banking, insurance, trust and loan companies, credit societies, caisses populaires and small loans companies. It is also responsible for considering customs and excise issues, taxation legislation, patents, royalties, corporate affairs, and bankruptcy-related issues.
The committee has conducted major studies in areas as diverse as corporate governance, financial sector reform, insolvency, Crown corporations, taxation, business and trade, productivity, financial crimes, retirement and digital currency.