Board of Governors, June 24, 1999 - APPENDIX III
The Audit Committee met on May 27, 1999, and provides the following report for the information of the Board.
The Committee received the 1998-99 report on the Internal Audit function for the year ended April 30, 1999. This report is attached as Annex 1.
The Committee approved the 1999-2000 Internal Audit Work Plan shown in Schedule 1 of Annex 1.
The Audit Committee has approved the following schedule for the review of the Audited Financial Statements for the year ended April 30, 1999, for UWO and associated companies:
1. Draft combined financial statements, including notes, completed by the Division of Financial Services and forwarded to the external auditors - July 30, 1999.
2. Review of draft combined financial statements with the external auditors and Financial Services group - August 13, 1999.
3. Review draft of all statements with Chair of the Audit Committee and Senior Director, Financial Services. - September 1999
4. Mail statements to members of the Boards of Associated Companies (Platt's Lane Estates, U.W.O. Foundation Inc. and U.W.O. Research Park) - September 1999.
5. Meetings of Boards of Associated Companies for statements approval - September 1999.
6. Presentation to Audit Committee (draft statements) - October 6, 1999.
7. Property and Finance Committee (for information only) - October 18, 1999.
8. Board of Governors (final statements) for approval - October 28, 1999.
See Annex 2.
See Annex 3.
5. Creation of a Risk Identification and Management
The Committee received, for information, the report of the Vice-President (Administration) about the proposal to create a Risk Identification and Management Group (see Annex 4).
The Audit Committee received the Annual Report of the Department of Occupational Safety, together with a supplementary 1998 report on fire prevention. The Annual Report is shown in Annex 5 [Unavailable on the Web] and the Fire Data - 1998 - Annual Report may be obtained from the Secretary of the Board, on request.