The Natural Sciences and Engineering Research Council of Canada (NSERC) Independent Audit Committee (IAC) was established as per the Government of Canada’s Policy on Internal Audit. Its fundamental role is to provide objective advice and recommendations to the President regarding the efficiency and effectiveness of NSERC’s risk management, control and governance frameworks, and processes. In order to give this support to the President, the IAC exercises oversight of core areas of NSERC management, control and accountability, including reporting. This is done in an integrated, risk-focused and systematic way.
The composition of the IAC includes:
The Chief Financial Officer and the Chief Audit Executive are expected to attend all meetings of the IAC. NSERC’s Executive Vice-President is a permanent guest of the committee. The Chair of the Independent Audit Committee may invite or request the attendance of other NSERC management members.
The Independent Audit Committee will hold four meetings annually in order to carry out its mandate.
The key areas of responsibility that fall within the scope of concern of Departmental Audit Committees are outlined in the Government of Canada’s Directive on Internal Auditing in the Government of Canada.