H-5 - Hydro-Québec Act

Section 7.11 Disposition versions

2006-12-14

7.11. The functions of the audit committee include

(1)  approving the annual internal audit plan;

(2)  making sure that a plan for the optimal utilization of the Company’s resources is put in place, and following up on that process;

(3)  seeing to it that internal control mechanisms are put in place and making sure that they are appropriate and effective;

(4)  making sure that a risk management process is put in place;

(5)  reviewing any activity likely to be detrimental to the Company’s financial health that is brought to its attention by the internal auditor or an officer;

(6)  examining the financial statements with the Auditor General and the external auditor appointed by the Government; and

(7)  recommending the approval of the financial statements by the board of directors.

2006, c. 59, s. 52.