Audit Committee Board committee members: Barry Ashton, Chair; Lisa Wise; Roy Goodall; Rick Smith, Randy Kott. Ex officio: Stuart Cantrill, Deane Collinson. Management resource: Barry Heinrich; Llyle Toews, Corporate Controller; Terry Anderson, Internal Audit Director. The external auditors may also attend meetings of the committee. Audit Committee members are independent and have, as a minimum, a basic understanding of financial statements, internal control and risk management. Of the five Audit Committee members, each has previous Audit Committee experience and skill. Committee members avail themselves of opportunities to improve their understanding of financial reporting and related issues and strive to maintain a current understanding of emerging issues, such as private enterprise generally accepted accounting principles. This committee assists the Board in ensuring that risk management and internal control systems are in place and it monitors their effective operation. It also monitors the quality and integrity of financial and management reporting processes; oversees the independence, qualifications and performance of the external auditor and the Internal Audit Director; ensures that environmental management policy and systems are in place and effective; and monitors compliance with all legislation and regulation. The committee also ensures that a code of conduct and conflict of interest guidelines are in place, monitors their effectiveness and provides an avenue of communication among the external auditors, management, the Internal Audit Department, members and the Board. During the 2009-2010 financial year, the committee met five times and addressed all of the items on its work plan. Of special note was an initial review of the potential impact of a transition to accounting standards for private enterprises. The committee also reviewed the structure, function and tasks of the Internal Audit Department, which now reports to the
Chief Executive Officer. This review will continue in 2011 as the committee reviews options for internal audit quality assurance. A copy of the Audit Committee Charter can be found on www.calgarycoop.com (Membership).
Governance Committee Board committee members: Terry Geib, Chair; Lisa Wise; Myra D’Souza Kormann; Roy Goodall. Ex officio: Stuart Cantrill. Management resource: Deane Collinson. The committee met four times during the year and held two additional meetings to work on various assignments, including reviewing and updating sections of the Directors’ Manual, developing a Board scorecard, developing and implementing an online Board document library, updating the Director Orientation Program and conducting an in-depth analysis of Board composition and succession planning.
Member Relations Committee Board committee members: Johanna Bates, Chair; Myra D’Souza Kormann. Members at large: Peggy LeSueur; Elaine Smith; Keith Peppinck; Clinton Robertson; Gordon Given. Ex officio: Stuart Cantrill; Deane Collinson. Management resource: Donna Burn; Sarah Boutron, MPR Manager. The Member Relations Committee includes Board members and up to twelve members-at-large. The purpose of the committee is to educate members about the democratic process and co-operatives, specifically Calgary Co-op, and to uphold the values of the co-operative movement by listening to member concerns and suggestions, and conveying them to the committee chair. The committee met four times. Tasks included learning about other co-operatives, discussing ways to involve members in the democratic process, and learning
2010 Annual Report
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