In this report a new EGS4 version, called EGSnrc to reflect the substantial changes made to the original code is reported, which incorporates a new any-angle multiple elastic scattering theory, an improved electron-step algorithm, a correct implementation of the fictitious cross section method for sampling distances between discrete interactions, a more accurate evaluation of energy loss, as well as an exact boundary crossing algorithm. It is demonstrated that EGSnrc allows for an artifact free Monte Carlo simulation of ion chamber response and backscattering, situations that have been considered in the past as the two of the most stringent tests of condensed history Monte Carlo codes. A detailed discussion of the effect of the various components of the condensed history simulation of electron transport on the simulated ion chamber response is given in the accompanying paper.