Audit, Finance and Risk Committee
The primary purpose of the Audit Committee is as follows:
- to assist the Board of Directors in the discharge of its responsibility to monitor the component parts of the Corporation's financial reporting and audit process.
- to maintain and enhance the quality, credibility and objectivity of the Corporation’s financial reporting and to satisfy itself and oversee management’s responsibility as to the adequacy of the supporting systems of internal financial and accounting controls.
- to assist the Board in its oversight of the independence, qualifications and appointment of the external auditor.
- to monitor the performance of the internal financial and accounting controls and of the internal and external auditors.
- to provide independent communication among the Board, the head of corporate audit and advisory, and the external auditor.
- to facilitate in-depth and candid discussions among the Audit Committee, management and the external auditor regarding significant issues involving judgment and impacting quality of controls and reporting.
- to assist the Board in the discharge of its oversight responsibility in relation to the Corporation’s enterprise risk management process, except in regard to risks for which the Human Resources and Compensation Committee and the Safety, Health, Environment and Security Committee have been delegated responsibility by the Board.