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Canadian Nuclear Safety Commission (Cnsc) Case Solution & Answer

Canadian Nuclear Safety Commission (Cnsc)

Canadian Nuclear Safety Commission (CNSC)

CNSC is a Canadian federal government agency that is independent to regulate the use of nuclear energy which is established in 1946.  It makes an independent decision on licensing nuclear activities. Canadian government proclaimed the atomic energy control act on 12th October 1946 for supervising and controlling the development and application of the use of atomic energy.

Nuclear safety and control were later replaced by the atomic energy and control act and the Canadian nuclear safety commission was established.it reports to its parliament through the minister of natural resources. SSCA has proved powers to CNSC establish national standards in Canada on how to use nuclear energy resources to protect the security, safety, and health of people. Its mandate is to disseminate scientific objective like technical and regulatory information to the public and to implement its peaceful commitments on the peaceful use of nuclear energy

Question 1

Challenges of Financial Management

Financial management is responsible to manage the overall Canadian economy.it prepares annual federal budgets and is responsible to advise the government on fiscal taxes tariffs policies security issues, social issues, and international commitment to financial stability.in Canada, the financial administration Act sets rule related to fiancés administration.Treasury board is responsible for financial management within the Canadian government.

There are many challenges faced by the government of Canada in the fields of financial management

Lack of planning about financial issues is a challenge as its huge country having a population of so lack of planning on how to deal with financial issues it a challenge for governmental officials. As we have seen in recent time economy of many countries are hit by the corona virus pandemic that was due to lack of planning.

There is no proper accounting measures in the financial management of Canada .they should have proper measures of accounting because they have huge data related to finances its proper management is a challenge for the officials. as they have huge data related to finances so there is no accurate information related to its finances  so it is a challenge for them to have no accurate information

Budgeting issues has become a major issue for the financial management when it comes to CNSC, allocating more or less budget to CNSC can create effect the international relations of Canadians government as it is related to nuclear energy. In Canada there are many investment opportunities, due to above stated reasons make it challenging for them to allocate budget, considering all the ideas and analyzing them properly.CNSC is governmental organization, there are chances of internal fraud, in such situation allocation of budget according to needs of their government and public demand is challenging.

Yes CNSC is a governmental organization so there is chances of frauds and involvement of government officials also the environmental control of nuclear material data is more which matches it. Sources of revenue are not commercial but from the government, that’s why there are unreliable sources.

Recommendations

They should have a fixed source of income or revenue like a license which should be mandatory for all the organizations which are related to natural resources. They should not give one time license it is recommended the renewal of license every to get more profit.

To increase revenues CNSC should impose penalties on organizations and people who are  directly or indirectly related to it.They should implement Automation, to control expenditure costs, and also impose cost control measures.

Steps Take In Review Analysis

I will check the CNSC Financial background to get better ideas about its financial position in the past present situation.

I also analyze the sources of expenditures of CNSC in the past and present, what measures should be taken to control them.

I also analyze the sources of revenue like payroll taxes and income taxes

I will analyze other alternatives to enhance how we can earn better and decrease our expenditures………………………

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