Terms of reference
The purposes of the Audit Committee (the “Committee”) of the Board of Directors of the Corporation are to fulfill applicable public company audit committee legal obligations and to assist the Board of Directors in fulfilling its oversight responsibilities in relation to the disclosure of financial statements and information derived from financial statements, including:
- the review of the annual and interim financial statements of the Corporation;
- the integrity and quality of the Corporation’s financial reporting and systems of internal control;
- the Corporation’s compliance with applicable legal and regulatory requirements;
- the qualifications, independence, engagement, compensation and performance of the Corporation’s external auditors;
- and the performance of the Corporation’s internal audit function;
and to prepare, if required, an audit committee report for inclusion in the Corporation’s annual management proxy circular, in accordance with applicable rules and regulations. In addition, the Committee will assist the Board with the identification of the principal risks of the Corporation’s business and ensure the implementation of appropriate risk assessment and risk management policies and processes to manage these risks.
The Corporation’s external auditors shall report directly to the Committee.
CP's Audit Committee Terms Of Reference(PDF, 67 kb)