M-3, r. 2 - Regulation respecting the committees of the Corporation of Master Electricians of Québec

Section 19 Disposition versions

2012-09-01

19. The audit committee is composed of 5 members. Members of the executive committee may not sit on the audit committee, although the treasurer of the Corporation attends its sittings without voting rights.

The audit committee is an advisory committee having the following functions:

(1)  it examines the Corporation’s financial statements;

(2)  it examines the Corporation’s budget before it is submitted by the executive committee to the council and at the Corporation’s annual meeting;

(3)  it examines the financial statements of the sections of the Corporation and makes recommendations concerning them to the section council, the executive committee and the council;

(4)  it verifies the Corporation’s expenditures against administrative authorizations, the budget and the regulations of the Corporation, and makes recommendations and observations to the executive committee and the council concerning any discrepancies noted;

(5)  it ensures the books of the Corporation are audited by independent auditors; and

(6)  it monitors the performance of the Corporation’s investment funds.

The audit committee may submit to the executive committee any observation or recommendation arising out of its functions.

O.C. 65-2008, s. 19.