Establishing the Audit Committee

The Audit Committee (the “Committee”) assists Town Council (“Council”) in fulfilling its oversight responsibilities relating to finance and audit matters delegated to management by Council.

In particular, the Committee assists Council by reviewing:

• Key financial information that will be provided to the province or made public;
• Strategic financial plans, operating and capital budgets;
• External and/or internal audit activities;
• The system of internal controls, risk management and financial information technology;
• Cash and investment management activities;
• Insurance coverage of significant risks and uncertainties;

Establishing an Audit Committee Policy – Signed