The Audit Committee is established as a standing committee of the Board, with responsibility for work as detailed below:

1. Purpose
   1. Be directly involved with the hiring of the Auditor for the Division.
   2. Meet with the Auditor prior to, and following, the Audit process.
   3. Bring to the Auditor’s attention any activity or event that is deemed appropriate for investigation or further research.
   4. Ensure the activities of the Board and Administration are carried out in an accountable and financially responsible manner that reflects the Fiduciary responsibility of the Board.
   5. Address with the Auditor, any areas that have the potential for Fraud.
   6. Ensure the motions of the Board are acted upon.
   7. Ensure the recommendations of the Audit are adhered to in a timely manner.
   8. Ensure appropriate Policies, Procedures (Administrative), and Practices are in place to be transparent and accountable.
   9. Ensure there is an accurate reporting of any financial information.
2. Powers and Duties
   1. Review, with the Auditor, any financial concerns that have been brought to its attention.
   2. Work with the Board and Administration to ensure accuracy, efficiency and accountability.
   3. Recommend funding levels within this committee’s mandate.
3. Membership
   1. Two trustees, one of whom will be designated as “Chair.”
   2. Two community members who are not trustees*
   3. If external members cannot be secured as committee members, then the membership of the Audit Committee folds into the Finance Committee, which then assumes the mandate of the Audit Committee
4. Meetings
   1. Called in a timely manner by the Committee Chair or Administration to meet the needs for reporting (Usually 2-3 meetings per year).

* Education Act 142 (2)