C-2 - Act respecting the Caisse de dépôt et placement du Québec

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13.8. The functions of the audit committee include
(1)  seeing that internal control mechanisms are put in place and ensuring that they are sufficient and effective;
(2)  ensuring that a risk management process is put in place;
(3)  making sure that a plan for the optimal utilization of the Fund’s resources is put in place, and following up on that process;
(4)  (paragraph repealed);
(5)  hearing the internal auditor on the application of paragraphs 1 to 3;
(6)  reviewing any activity likely to be detrimental to the Fund’s financial health that is brought to its attention by the auditor or an officer;
(7)  approving the internal audit plan;
(8)  examining the financial statements with the Auditor General and the external auditor appointed by the Government;
(9)  submitting the financial statements to the board of directors and recommending their approval.
2004, c. 33, s. 11; 2006, c. 59, s. 140.
13.8. The functions of the audit committee include
(1)  seeing that internal control mechanisms are put in place and ensuring that they are sufficient and effective;
(2)  ensuring that a risk management process is put in place;
(3)  monitoring the quality and functioning of the systems and processes put in place by the Fund and its wholly-owned subsidiaries to ensure that resources are acquired and utilized with appropriate emphasis on the economy, efficiency and effectiveness of these resources, and ensuring that a plan is prepared for that purpose;
(4)  following up its recommendations and the implementation of measures taken under paragraph 3;
(5)  hearing the internal auditor on the application of paragraphs 1 to 4;
(6)  reviewing any activity likely to be detrimental to the Fund’s financial health that is brought to its attention by the auditor or an officer;
(7)  approving the internal audit plan;
(8)  examining the financial statements with the Auditor General;
(9)  submitting the financial statements to the board of directors and recommending their approval.
2004, c. 33, s. 11.