Continuing Education Evaluation Committee

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The Audit committee’s role is to assist the Board of directors in fulfilling its oversight responsibilities in respect of financial reporting, inancial management, risk management and control, external audit activities, and procedures applied by the Order to ensure compliance with applicable laws and regulations. To fulfill that role, committee members must understand their responsibilities, the activities and operations of the Order, and the risks to which it is exposed.


The committee is a standing committee, and its responsibilities include:

Oversight of financial reporting

  • Analyzing the latest professional or regulatory pronouncements and understanding their impact on the financial statements
  • Reviewing with management and with the external auditors the appropriateness and degree of conservatism of the Order’s accounting policies, key estimates and judgements
  • Reviewing the budgetary directions and making recommendations thereon to the Board
  • Reviewing the annual budget, including the annual fees and other fees charged to members, and recommending its adoption
  • Examining the Order's financial position during the fiscal year
  • Acquiring knowledge in areas representing the most financial risk, and determining how management mitigates these risks
  • Evaluating, as needed, the investment policies and ensuring compliance with them
  • Ensuring the quality and integrity of the annual financial statements and their compliance with GAAP, based on information received
  • Recommending the audited annual financial statements for approval by the Board

Oversight of risk management and control

  • Analyzing the audit scope and discussing the audit approach with the external auditors to gain reasonable assurance that the evaluation and testing of financial controls are adequate
  • Monitoring the reliability, quality and integrity of information management systems and internal controls, including the control environment
  • Making inquiries of external auditors and/or management to determine whether any fraud or illegal acts have been committed and examining any related issue
  • Making inquiries of management and the external auditors about the principal risks faced by the Order and the measures in place to mitigate them

Oversight of external audit activities

  • Meeting with the external auditors to review and discuss the annual audit plan and the results of the audit, and ensuring that no restriction or limitation was unduly placed on them
  • Informing the external auditors about the interest and concerns of the board or Executive committee concerning the audit of the Order’s accounts and affairs
  • Receiving a report annually from the external auditors confirming their independence, indicating all engagements carried out for the Order, and verifying their objectivity
  • Pre-approving all non-audit services to be provided to the Order by the external auditors before any additional amounts are incurred
  • Ensuring the external auditors’ main conclusions or recommendations are obtained and analyzed in a timely manner
  • Reviewing the external auditors’ report
  • Holding in-camera sessions with the external auditors to ensure that no management restrictions have been placed on them and addressing any issues the auditor believes must be discussed privately
  • Evaluating the performance of the external auditors annually, including by consulting with management
  • Receiving from management a copy of the representation letter provided to the external auditors
  • Recommending to the Board the appointment of the external auditors or the renewal of their annual mandate, the total duration of which cannot exceed five years
  • Approving the compensation of the external auditors
  • Resolving disagreements between management and the external auditors concerning financial reporting matters

Compliance with laws and regulations applicable to Order activities

  • Monitoring management’s processes for ensuring compliance with laws and regulations that apply to the Order, and assessing their effectiveness
  • Obtaining reports from management concerning compliance issues
  • Ensuring that all regulatory compliance matters likely to affect the financial statements were taken into account in preparing the financial statements
  • Examining the findings of any review conducted by regulatory bodies

Other responsibilities

  • In order to recognize the fundamental importance of ethics in the effectiveness of internal control, inquiring about the application of rules adopted by the Board and management in order to develop recommendations as needed respecting the relevance and application of rules prescribed in the codes of ethics and policies in force
  • Reviewing the expenses of the President and CEO and of the Chair of the Order
  • Participating in the selection of the vice-president, Administration
  • Evaluating the performance of the Committee annually
  • Performing any other function entrusted by the Board