Internal Audit Committee Annual Planning 2010

#		Audit Committee Action Item Description	Purpose/ Action	Frequency	Feb Q1	May Q2	Aug Q3	Nov Q4	Special Meeting
Departmental Audit Committee Infrastructure
1.	Departmental audit committee Charter (4.4.1)		Review	Annually				x
2.	Audit committee annual plan (for upcoming fiscal year) (4.4.2)		Approve ~ 1 year ahead	Ongoing	-	-	-	-
3.	Audit committee member competency profile (4.3.3)		Review	Bi-annually	x
4.	Orientation/ongoing professional development requirements		Determine	Annually	x
Internal Audit Oversight Responsibilities
5.		Departmental internal audit charter / policy (4.2.2)	Review and recommend for approval	Annually				x
6.		Adequacy of internal audit resources (4.2.2)	Review	Annually	x
7.		Risk-based internal audit plan (4.2.2)	Review and recommend for approval	Annually	x
8.		Performance of the internal audit function/chief audit executive (4.2.2)	Review/Advise	Annually	x
9.		Departmental internal audit reports and management action plans to address internal audit recommendations (4.2.2)	Review and recommend for approval	Ongoing	-	-	-	-
10.		Audit engagements or tasks that do not result in a report to the audit committee (4.2.2)	Receive for information	Ongoing	-	-	-	-
11.		Follow-up reports on management actions taken (4.2.2)	Review	Regularly	x		x
Annual Responsibilities
12.		Values and ethics (4.2.1)	Review	Annually		x
13.		Departmental corporate risk profile and risk management arrangements (4.2.1)	Review	Annually	x
14.		Management control framework (4.2.1)	Review	Annually					Dec
15.		OAG and central agencies, including audit issues and reports that have departmental or government wide implications and accompanying management responses and action plans (4.2.3)	Review and recommend for approval / advise DM	Ongoing				x
16.		Arrangements to monitor and follow-up on related management action plans (4.2.4)	Review	Annually			x
17.		Departmental financial statements (4.2.5.1)	Review and recommend for acceptance	Annually			x
Annual Responsibilities (cont’d)
18.		Departmental financial statements and/or Public Accounts Audits (including findings, management letters and external auditor performance) (4.2.5.2)	Review	Annually			x
19.		RPP; DPR; CRP and other significant accountability reports (4.2.6)	Review	Annually			x DPR		x RPP, CRP ( Dec)
20.		CAE’s annual overview report (4.2.2)		Annually	x
Committee Assessment
21.		Committee self-assessment (4.4.1, 4.4.2)	Review	Annually	x
22.		Advice and briefings re. OAG and central agencies (4.2.3, 4.2.4)	Discussion	Ongoing	-	-	-	-
Accountability Reporting
23.		Departmental audit committee annual report (4.4.5)	Prepare	Annually	x
24.		Meet Commissioners with annual report							x Spring
In Camera Meetings
25.		With DH (if not member), CAE, SFO/CFO (and OAG rep when attending) (4.4.4)	Discussion	Ongoing	-	-	-	-	-
Total Number of DAC Agenda Items					10	1	5	3