CRA Audit Committee
The CRA’s Audit Committee is part of the CRA’s Board of Management. It plays an important role in the supervision of the CRA’s work, and helps the Board of Management ensure that the CRA maintains high service standards. This is an independent body of persons that do not answer to the CRA and are not employed by the CRA.
The Audit Committee is responsible for reviewing the CRA’s accounting frameworks, as well as its financial and performance information, internal controls, risk tolerance, and the CRA’s compliance with all financial legislation. In short, the Audit Committee functions as the CFO of the CRA’s Board of Management.
Note: Articles are for general information only and do not constitute tax advice nor can they be relied upon. Call Faris CPA for assistance.