Fonds uofc-1428 - Audit committee series

The Audit Committee was established by the Board of Governors in November 1978 as a sub-committee of the Business and Finance Committee. The terms of reference were: a) to meet with the Auditor General, prior to commencement of the audit, to review the scope and extent of his proposed examination, discuss any concerns about the operation of the university, and if appropriate, request that the Auditor General extend his examination and report on areas in question; b) to review with the Auditor General, subsequent to completion of the audit, the draft financial statements of the university and the results of his examination, and to discuss in detail the recommendations to be made by the Auditor General to the university administration; c) to review the internal control and reporting procedures with internal auditors and members of the university administration; d) to meet with the Auditor General at his request to discuss any matters he thinks should be brought before the committee; and e) to advise the Board of Governors, through the Business and finance committee, as required on any matter related to the foregoing. From 1982-1986, the Audit Committee was a sub-committee of the Finance Committee. In December 1986, the Audit Committee became a standing committee of the Board of Governors.