Internal Audit Committee Annual Planning 2011
| # | 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 | x | x | x | x | ||
| 3. | Audit committee member competency profile (4.3.3) | Review | Bi-annually | x | 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 | - | - | - | - | - (Dec.) | |
| 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 | x | x (Dec.) | |||
| 14. | Management control framework (4.2.1) | Review | Annually | x (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 | - | - | - | - | ||
| 16. | Arrangements to monitor and follow-up on related management action plans (4.2.4) | Review | Annually or Semi-annually | x | x | ||||
| 17. | Departmental financial statements (4.2.5.1) | Review and recommend for acceptance | Annually | x | |||||
| 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 Draft DPR | 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 to be Scheduled | 12 | 2 | 8 | 3 | 4 | ||||
Legend
X planned
– if needed
√ addressed
Note: This IAC annual plan is subject to change upon arrival of the new President and IAC members.
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