| Policy #: | 8910 |
| Subject: | Services Provided by the University’s External Auditor |
| Group: | Institutional |
| Approved by: | The Board of Regents |
| Approval date: | February 9, 2007 |
| Effective date: | January 1, 2007 |
| Revised: | |
| Administered by: | Vice-President (Administration) |
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| 1 - PURPOSE | |
| The purpose of this policy is to establish i) a requirement that the Audit Committee pre-approve certain engagements of the University’s external auditor and ii) a requirement that the external auditor report to the Audit Committee annually on all services provided to the University. |
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| 2 - POLICY | |
| The Audit Committee must pre-approve any audit or non-audit engagement where the fee is, or is reasonably anticipated to be, in excess of 10% of the University’s financial statement audit fee. Between meetings the Chair may pre-approve engagements on behalf of the Committee. It is the responsibility of the Vice-President (Administration), and not of the external auditor, to ensure that necessary pre-approvals are obtained. However, the external auditor will report annually to the Audit Committee on all engagements by the University and on the fees charged for each engagement. | |
| Maintained
by the Office of the Vice-President
(Administration) July 5, 2007 |
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