Audit & Risk Committee

The Audit & Risk Committee is a Board committee established pursuant to Section 2.11 of By-Law No. 1. The purpose of the Audit & Risk Committee is to assist the Board in meeting its fiduciary and governance responsibilities with respect to financial oversight and risk management.


Chair and Membership

The Audit Committee consists of a Chair appointed by the Board of Directors and at least two Directors who have some knowledge or expertise in financial administration. The Chair may recommend the appointment of non-Directors to the committee.

Chair:
Michael Appleton

Members:
Steve Bailey
Tim Barber
Lucy Impera
Tony Ma
TBA – Government Appointee

Staff Participation:
Michael Beard, CEO
Mike Prime, Vice President, Corporate Services (Interm)
Gloria Fougere, Director, Finance and Accounting
Sandra Gibney, Director, Strategic Initiatives & Stakeholder Relations
Tim Bates, Manager, Accounting
Andria Cordovez Mulet, Manager, Office of the CEO/Executive Assistant


Duties, Functions or Responsibilities

    • To liaise with the auditor prior to the audit
    • To review the auditor’s management letter and audit report
    • To meet with the auditor at the conclusion of the audit to review the management letter, audit report and the financial statements
    • To recommend to the Board of Directors the acceptance of the auditor’s report and the financial statements
    • In consultation with staff, to evaluate the performance of the auditors
    • To recommend the appointment of the auditors to the Board of Directors
    • Periodically, to coordinate the tendering of the audit and recommend the selection of the auditor to the Board of Directors
    • To monitor, review and make recommendations to the Board of Directors related to risk management and risk policies and practices

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