Policy Section: Board of Directors
Policy Subsection: Audit, Finance and Risk
Policy Title: Audit
The financial systems of Swimming Canada are evaluated on an annual basis through the performance of a third party audit. The results of each audit are reported to the Board and to the members.
Swimming Canada has a fiduciary responsibility to ensure the integrity of its accounting records. This policy is intended to ensure there is an open avenue of communication between key financial Swimming Canada staff, the independent auditor, and the Swimming Canada Board of Directors.
Swimming Canada financial staff, under the direction of the CEO, is responsible for preparing all financial information, and for establishing and implementing systems of internal control and review.
The external auditor’s responsibility is to audit the organization’s financial statements, and to report on the organization’s systems of internal control.
The Audit, Finance and Risk Committee’s role is one of oversight.
Present all financial information
Establish financial systems of internal control, and regularly review requirements.
|Audit, Finance and Risk Committee||
Monitor the independence of the external auditor.
Review the report of the external auditor and assist the Board in its oversight responsibilities.
Audit Swimming Canada’s financial statements.
Report on Swimming Canada’s systems of internal control and accounting policies.
It is not the duty or responsibility of the Audit, Finance and Risk Committee or any of its members to plan or conduct any type of audit or accounting review or procedure.
Swimming Canada ByLaws
Swimming Canada Audit, Finance and Risk Committee Terms of Reference
Swimming Canada Financial Reporting Policy
Swimming Canada Investment Policy
Review and Approval
|Review and Approval:||July 29, 2008|
|June 2, 2009|
|May 19, 2011|
|June 26, 2012|