IAA services the aquaculture industry in the Canadian Atlantic Provinces and the State of Maine in the United States. Collectively there are well in excess of 1000 marine and freshwater aquaculture sites each with the potential to require some level of risk assessment by governments, lending institutions or insurance underwriters. In addition, many of the industry associations are adopting Codes of Practice and International Codes of Containment requiring an independent audit to validate conformance. Such audits must be done without prejudice and should be done independent of the growers’ associations and the government regulatory bodies.
IAA can be of service to various government agencies, in particular Fisheries and Oceans Canada (DFO), the Canadian Coast Guard and the Provincial Fisheries and Aquaculture Departments, to conduct risk assessments or compliance audits under the operating conditions associated with the Provincial leases and licences, the NWPA approvals and subsequently the conditions of the CEAA authorizations. In addition, IAA can provide government agencies with an independent and completely objective Preliminary Risk Assessment as part of the evaluation of applications filed for new sites that require Provincial, CEAA and NWPA approvals.
IAA can provide feed suppliers, equipment suppliers, and aquaculture insurance companies risk assessments as a precondition of extending feed credit, financing or issuing an insurance policy. IAA has already suggested to some of the potential client groups that they themselves may wish to provide some level of incentive to the growers, such as: cost-sharing; adjustments to the terms of financing; and, adjustments to premiums and deductibles on insurance policies, to offset the costs to their customers. Through the IAA assessments an extensive data bank of information will be collected upon which trends can be observed over time which impact could on future equipment purchases, fiancing packaes and insurance coverage. A co-ordinated approach between the suppliers’ existing customer base, or growers, and any of the service sectors could begin with an initial onsite interview with the site operators to collect vital information about the site in the Evaluation Categories. This information will be provided to the IAA Assessment Team who will then spend at least one (1) day on each site to validate the information provided and to further conduct an initial risk assessment. Once the Preliminary Risk Assessments have been completed and risk factors determined, sites may then be prioritized for Full Risk Assessments. IAA will deliver individual Preliminary Risk Assessment Reports to the client along with a Consolidated Report including a prioritized list for consideration and final determination by the client. Individual site authorizations or funding approvals may then be reviewed and adjusted in the context of these preliminary assessments with final determinations to be made based on the more comprehensive Full Risk Assessments.
Annual Audits should be a routine requirement of any agency or business involved in issuing permits for or financing of aquaculture sites especially when public resources are being allocated for private purposes and substantial investment or insurance dollars may be at risk.
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New Brunswick, Canada
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