Initiatives

Canadian Audit Committee Network

Internal audit. Risk management. IRFS. Fraud. Relationships with key executives. Audit committee chairs from Canadian public companies, including many cross-registered with the U.S. Securities and Exchange Commission, have discussed these and other important audit committee oversight issues in our Canadian Audit Committee Network (CACN), founded in 2006. The network is supported by Ernst & Young.

This dialogue has contributed to enhanced audit committee performance and highlighted opportunities for directors across the country to refine corporate governance practices. While network meetings are conducted in English, VantagePoint summaries are also available in French.

Recent network topics:

The audit committee’s relationship with the external audit firm

Members believe a constructive, open relationship between the audit committee and the external auditor is critical. As one member said, "We have a very good relationship with our audit firm. All the ingredients are there to deliver independent, really high-quality audits."

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Version Française

Board and audit committee oversight of transactions

Members discussed how the global economic environment is affecting the current merger and acquisition market and shared several techniques that their boards and audit committees have adopted to enhance their oversight of transactions.

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Version Française

The board and audit committee's role in IT governance

One member said, “IT is one of our [company’s] biggest advantages, but it’s really introduced a lot of risk that the board isn’t used to overseeing.” Members explored IT trends and described practices to ensure effective board and audit committee oversight.

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Version Française

Audit committee oversight of fraud and other corporate malfeasance

Members shared mechanisms audit committees can use to prevent and detect fraud, emphasizing the value of a consistent corporate culture across global operations.  

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Version Française

Participant Profile

Barbara Stymiest 122

Barbara Stymiest
Canadian Audit Committee Network

Audit Committee Chair, Research in Motion

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