Audit Committee and Internal Audit
The Education Act requires that every district school board in the province establish an Audit Committee. The Audit Committee is composed of both trustees and non-trustee members appointed by the school board in accordance with its by-law on the selection process. School board staff are not permitted to be a member of the committee.
The purpose of the Audit Committee is to provide oversight of the school board’s financial reporting, controls and risk management. Ontario Regulation 361/10: Audit Committees describes the composition, functions, powers, and duties of an audit committee.
A Regional Internal Audit model was established by the Ministry of Education in 2011 and funded through the Grants for Student Needs. Across the province there are eight Regional Internal Audit groups. While some Regional Internal Audit teams have dedicated staff members, the Brant Haldimand Norfolk Catholic District School Board participates in the South Region and fully outsources this function to a third-party professional services firm.
Internal audits are determined through an annual risk assessment facilitated by the third-party professional services firm and completed in consultation with the Board’s senior management and Audit Committee.
The BHNCDSB is seeking two community members to serve on its Audit Committee, effective immediately. Qualified candidates interested are invited to complete the Application Form or submit a resume.