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Finance and Audit Committee

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Who we are

Frequency of meetings and responsibilities

The Finance and Audit Committee meets at least twice a year to assist the College of Family Physicians of Canada (CFPC) Board of Directors by carrying out governance responsibilities related to approving the annual budget and monitoring the financial management of the CFPC.

This Committee is also responsible for ensuring that the allocation of financial resources is aligned with the College’s strategic priorities.

Current Membership

Member

Position

Year

Dr. Braden Bouchard, North Battleford, SK

Honorary Secretary-Treasurer (Chair)

2019-20

Dr. Shirley Schipper, Edmonton, AB

President

2019-20

Dr. Catherine Cervin, Edmonton, AB

President-Elect

2019-20

Dr. Mark Woo, Ottawa, ON

Section of Residents

2019-20

Dr. Christie Newton, Port Moody, BC

Board Member at Large

2019-20

Dr. John Maxted, Markham, ON

Board Member at Large

2018-20

Vacant

Board Member at Large

2019-22

Vacant

Subject Matter Expert (Finance) TBD

Permanent Staff

Dr. Francine Lemire

Executive Director and Chief Executive Officer

Mrs. Theresa Maguire-Garber

Executive Director, Corporate Services

Mr. Sandeep Kumar

Director, Finance & Asset Management

Vacant

Manager, Finance

Adhoc Staff (as needed)

Mr. Eric Mang

Executive Director, Member and External Relations

Dr. Jeffrey Sisler

Executive Director, Professional Development and Practice Support

Dr. Nancy Fowler

Executive Director, Academic Family Medicine

Mr. Mark Banbury

Interim Executive Director, Information and Technology Services

Claudia Zuccato Ria

Executive Director, Foundation for Advancing Family Medicine

Ms. Sarah Scott

Director, Governance and Strategic Planning

Resources

Terms of reference

Purpose

To assist the Board in carrying out governance responsibilities related to approving annual budget and monitoring the financial management of the College of Family Physicians of Canada (CFCP).

To ensure that the allocation of financial resources is aligned with the College’s strategic priorities.

Responsibilities

  1. Make recommendations and/or report to the Board with respect to:
    • Annual operating and capital budgets
    • CFPC reserve funds
    • CFPC investments and investment policies
    • CFPC Employee Pension Fund investments and policies
    • Quarterly financial statements
    • Annual audited financial statements of the CFPC and of the Employee Pension Fund
    • Appointment of auditors
    • Auditors’ and pension actuaries’ reports
    • Policies related to financial management
  2. Fulfill the function of an Audit Committee:

Meet with the external auditors to ensure that:

  • The CFPC has implemented appropriate systems to identify, monitor and mitigate significant business risk
  • The appropriate systems of internal control, which ensure compliance with CFPC policies and procedures, are in place and operating effectively
  • The CFPC’s and the Employee Pension Fund’s annual financial statements are fairly represented in all material respects in accordance with generally accepted accounting principles
  • Any matter that the external auditors wish to bring to the attention of the Board has been given adequate attention
  • The external audit function has been effectively carried out

Type of Committee

The Finance and Audit Committee is a standing committee of the Board.

Accountability and authority

The Finance and Audit Committee reports to the CFPC’s Board of Directors.

Frequency of meetings

The Committee will meet twice a year (minimum one face-to-face meeting and one telephone conference).

Committee membership/terms of office

The Committee shall consist of the honorary Secretary-Treasurer who shall chair the Committee, President, President-Elect, Chair of the Section of Residents or their designate (all for a one-year term), up to two Board members-at-large for a two-year term, plus a member-at-large for a three-year term).

Chair

The chair shall be the Honorary Secretary-Treasurer of the College’s Board of Directors.

Support staff

  • Executive Director and Chief Executive Officer
  • Executive Director, Academic Family Medicine
  • Executive Director, Corporate Services
  • Executive Director, Professional Development and Practice Support
  • Executive Director, Member and External Relations
  • Executive Director, Information and Technology Services
  • Director, Finance and Asset Management
  • Director, Governance and Strategic Planning
  • Manager, Finance
Resources

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