Financial Reporting

Financial Reporting

Policy Section:  Board of Directors

Policy Subsection: Audit, Finance and Risk

Policy Title: Financial Reporting

Policy Statement

Swimming Canada presents a fair representation of the financial status of the organization to the members at the AGM.


This policy is intended to ensure presentation of reliable, relevant financial information, on a timely basis and in accordance with generally accepted accounting principles, to the Board, members of Swimming Canada, stakeholders and other users.


Swimming Canada financial staff, under the direction of the CEO, is responsible for preparing all financial statements, and for the fair presentation of the information set forth in the financial statements in accordance with GAAP.  They are also responsible for determining the appropriate accounting policies designed to assure compliance with financial reporting principles, accounting standards and all applicable laws and regulations.

Body Action

Presents  financial statements to the Board.

Ensure appropriate accounting policy choices.

Maintain appropriate financial reporting principles.

Audit, Finance and Risk Committee Assist the Board in its oversight of the integrity, adequacy and timeliness of the organization’s financial reporting and disclosure practices.

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 Audit, Finance and Risk Committee Terms of Reference
Swimming Canada Audit Policy
Swimming Canada Charitable Donations Policy
Swimming Canada Investment Policy

Review and Approval

Approved:  July 29, 2008

Reviewed and Approved:    June 2, 2009
May 19, 2011
June 26, 2012