A review of Alberta’s government agencies, boards and commissions is underway, part of a plan improve services and enhance value for taxpayers, the Alberta government announced on Thursday.

The Alberta Securities Commission (ASC) falls into the first phase of the review, which includes 136 public agencies subject to the Alberta Public Agencies Governance Act and is expected to be completed by March 2016.

Overall, the review will cover all of the 301 agencies, boards and commissions in Alberta that account for almost half of the province’s budget. Ministers will be reviewing the organizations associated with their departments, “considering their role and mandate, board membership, and governance. They will also identify areas of duplication and potential cost savings,” the Alberta government says in a statement.

In addition, an outside consultant will advise the government on rationalizing and standardizing compensation levels.

“Albertans need to feel confident that our agencies, boards and commissions are using public dollars effectively and efficiently. It is also important these public agencies are transparent and accountable, and are following good governance practices,” says Joe Ceci, Alberta’s Minister of Finance and president of Treasury Board.

“This review, combined with new legislation to expand the sunshine list and enshrine it in law, will help ensure Albertans are getting value for their money,” he adds.

After the initial wave of reviews, a second phase will target 141 agencies that are not governed under the Alberta Public Agencies Governance Act, and is to be completed next summer. The third and final phase, which is due to be completed in late fall 2016, will focus on boards of governors at public post-secondary institutions.