Audit and Enterprise Risk Committee

The Audit and Enterprise Risk Committee (AERC) has delegated responsibility for the Company’s financial reporting process and manages the relationship between the Company and the external auditor. Under the National Instrument 52-110 of the Canadian Securities Authorities, it is a requirement for the Company to establish a strong, effective and independent audit committee. The members of the AERC are all independent directors of the Board who are financially literate and Mr Philippe Laborde chairs this Committee has recent accounting and financial management expertise. The AERC meet regularly and its duties include an ongoing review of:

a)       The scope and results of the external audit, as well as the independence, qualifications, performance and objectivity of the external auditors;

b)      The integrity of the financial statements and other financial information provided by the Company to the Toronto Stock Exchange and the public in general;

c)      Management’s conduct of the Company's financial reporting process.

d)      The Company's system of internal accounting, financial controls, compliance with legal and regulatory requirements whilst safeguarding the Company’s assets;

e)      The Performance of the Company's internal audit function, adequacy of the plans of the internal audit unit and its audit reports;

f)       The Company’s risk management process and systems of internal control.

 

The current members of the AERC are:

1.      Mr. Philippe Laborde – Chairman

2.      Mr. Bill Watson

3.      Mr. Ronald Royal

 

Board Committees