And when the federal agency confronted the delinquent corporations with those problems, fewer than half fixed them. Almost 330,000 federal corporations are registered in the database. And the Corporations Canada audit indicates there's a compliance challenge associated with even a bare-bones registry, which leaves corporations themselves responsible for updating their data. Alesia Nahirny, executive director of Transparency International Canada, says the federal corporate registry needs to include information about the true owners of corporations. Registry information is also compared with data held by the Canada Revenue Agency to identify inconsistencies.

Source: CBC News September 18, 2018 08:00 UTC