Marginal note:Audit committee
69 (1) The Corporation shall establish an audit committee composed of not fewer than three directors.
(2) The audit committee shall
(a) review and advise the Board with respect to the financial statements that are to be included in the annual report of the Corporation;
(b) oversee any internal audit of the Corporation that is conducted pursuant to subsection 60(3);
(c) review and advise the Board with respect to the annual auditor’s report of the Corporation referred to in subsection 62(1);
(d) where the Corporation is undergoing a special examination, review and advise the Board with respect to the plan and reports referred to in section 64; and
(e) perform such other functions as are assigned to it by the Board.
Marginal note:Auditor’s attendance
(3) The auditor is entitled to receive notice of every meeting of the audit committee and to attend and be heard at each meeting and, if so requested by a member of the audit committee, the auditor shall attend any or every meeting of the committee.
Marginal note:Calling meeting
(4) The auditor or a member of the audit committee may call a meeting of the committee.
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