Guidelines & Procedures

External Audit Activity Procedure

Authority

On behalf of the Associate Vice-President (Financial Services), the Director, Financial Reporting will be responsible for maintaining a record of all external audit activity, for reporting to the Audit Committee.

Purpose

The intended purpose of maintaining this record is to accumulate information concerning the nature, purpose, and timing of audit activity for reporting to the Audit Committee. Additional information should be provided as it becomes known and should begin with a summary of any arrangements negotiated with the auditors during the initial planning of the audit.

Process

Financial Services staff are responsible for informing the Director of their respective unit of any external audit activity they become aware of. The Director will ensure that all pertinent information relating to the audit is obtained from the auditor or the individual responsible for the area being audited.

The Director will complete and distribute the form, "Record of External Audit Activity" as early as possible in the planning process to facilitate coordination of the audit. The completed form should be forwarded to the Director, Financial Reporting with a copy to the Associate Vice-President (Financial Services).

Upon completion of the audit, the "Record of External Audit Activity" form will be completed by the Director, Financial Reporting.

This information will be provided to the Audit Committee upon request and will be provided to the Associate Vice-President (Financial Services) on an annual basis as part of the Annual Report of Financial Reporting.

Forms

Versions		Document Name	Help
		Record of External Audit Activity