2.1 Meetings

During the reporting period, the AC conducted five meetings, which were all attended by all of AC members.

Minutes of each meeting were prepared and approved by the AC members at the subsequent meeting.

AC members have also provided input and comments on various documents, as needed, outside the five meetings.

2.2 Terms of reference and annual plan

At the AC’s first meeting in October 2007, the members reviewed and recommended the approval of the AC’s terms of reference, which were subsequently approved by the Commissioner.

At its second meeting, the AC reviewed, discussed and approved its annual plan for carrying out its required responsibilities.

2.3 Policy on internal audit

Before establishing the AC, management developed an internal audit policy for OCOL, based on the 2006 TB Policy on Internal Audit and the Joint Agreement of the Working Group of Officers of Parliament. The AC reviewed and discussed OCOL’s policy and recommended it for approval by the Commissioner.

2.4 Orientation

To be highly effective in fulfilling their responsibilities, AC members must gain sufficient understanding of their role and of the organization’s business. The AC participated in the following orientation events to begin to build a solid understanding of the AC’s suite of responsibilities and of OCOL operations:

• review and discussion of key departmental documents including OCOL’s reports on plans and priorities, performance reports and annual reports, an activity that is one of the nine key areas of responsibility under the AC’s terms of reference;
• presentations and discussions on OCOL’s key branches and areas, including the following:
• Compliance Assurance Branch;
• Legal Affairs Branch;
• Policy and Communications Branch;
• Chief of Staff and Advisor to the Commissioner; and
• Corporate Services Branch, including:
• Finance,
• Information Management and Information Technology, and
• Human Resources; and
• presentation from the Office of the Auditor General (OAG), including its role in the audit of OCOL’s financial statements.

2.5 Internal Audit Plan

The AC was established when OCOL established an internal audit function. As such, the AC devoted its first few months to developing a planning document: Internal Audit Plan 2008–2009 and Outlook to 2010–2011. This plan was designed to address areas of greatest risk and significance to OCOL. Committee members provided input into the plan, the AC formally reviewed the plan in the early summer of 2008 and the Commissioner approved it after that. The AC then reviewed and discussed the plan implementation during the 2008–2009 fiscal year, including the progress for the first engagement: an internal audit of human resources management practices.

2.6 Review of OCOL’s financial statements

As an officer of Parliament, OCOL must have its financial statements audited by the OAG each year. During the year, the AC met with the OAG to review and discuss OCOL’s 2007–2008 audited financial statements. Based on the AC’s review and the OAG’s attestation audit, the Commissioner approved the organization’s 2008–2009 financial statements.

2.7 Review of other information

During the reporting period, the AC reviewed the following items for advising the Commissioner:

• OCOL’s inaugural Management Reporting and Results Structure, including OCOL’s Program Activity Architecture, Performance Measurement Framework and Governance Structure;
• OCOL’s 2007–2008 Performance Report and 2008–2009 Report on Plans and Priorities;
• OCOL’s Corporate Risk Profile; and
• 2008 Report to the Parliamentary Panel on Internal Audit Implementation of Agents of Parliament.