Finance and Audit Committee - Riverside School Board

Mandate

Finance functions:

Review financial reports quarterly and annually, including budgets and forecasts of year-end results
Review changes in accounting principles
Review any situation that could have a material effect on the financial position of the Board
Make recommendations to Council with respect to the acquisition and use of the financial resources of the school board, schools, and centers
Provide finance advice or information in support of educational and/or operations proposals that require funds or economic analysis and make recommendations to Council.

Audit Functions

External Audit

Provide recommendations regarding the selection of the external auditor to the Council of Commissioners.
Meet with the external auditor prior to commencement of the audit to review the audit plans
Review any matters that impair the conduct of the external audit
Review the annual audited financial statements, including the auditors report and the memorandum of findings and recommendations and, working directly with the external auditor, assist Council in interpreting such documents.
Make a recommendation to the Council of Commissioners regarding the acceptance of the annual audit report.
Review the corrective action plan developed by the Board and the implementation of such plans.
Review the mandate of the external auditors to study the possibility of extending the mandate to meet specific needs

Internal Audit

Ensure that the budgets and financial statements that are provided accurately reflect the activity and performance of the financial resources of the school board, its schools and centers and make recommendations to Council
Review compliance with bylaws and policies as they relate to the financial matters of the Board
Make recommendations to the Council of Commissioners regarding the appointment of the internal auditor.
Assist in the oversight of the internal audit function, including reviewing the annual internal audit plan to ensure that high risk areas and key control activities are periodically evaluated and tested, and reviewing the results of internal audit activities.
Review significant recommendations and findings of the internal auditor.
Monitor implementation of the internal auditors recommendations
Participate in the evaluation of the performance of the internal audit function.
Respond to any matter that may be referred to the Audit Committee by Council

Dan Lamoureux

Pamela Booth Morrison
Lesley LIewelyn Cuffling
Charles Horrell
Matthew Mazur
Patrick Michaud
Neela Parsnani
David Fournier
Carrie Ellen Ronning

Lucie Roy
Chantale Scroggins
Michel Bergeron
Pierre Gagnon

Pamela Booth Morrison
Chair – Audit, Finance and Material Resources Committee
Email: pbooth-morrison@rsb.qc.ca

Michel Bergeron
Director of Financial Resources
Tel.: 450-672-4010 Ext. 5260
Email: michel.bergeron@rsb.qc.ca