Audit Committee Readiness HRSDC Perspective

1
Audit Committee Readiness HRSDC Perspective

• Elizabeth Murphy-Walsh
• Chief Audit Executive
• November 27, 2007

2
What We Have Done

• Developed Policy Implementation Plan
• Key component is the creation of the Departmental
  Audit Committee (DAC)
• Shared with DM and current Management Audit and
  Evaluation Committee members
• Developed desired member Competency Profile
• Initiated discussions with the OCG and the DM
• Reviewed initial long-list of candidates and
  provided input to the OCG

3
Our Approach

• Has been determined there will be one DAC for
  HRSDC/Service Canada therefore, coordination
  has been and will continue to be key
• Consulting with senior management, including DM,
  on a regular basis
• Proactive in terms of approaching the OCG
• Documenting lessons learned from departments that
  already have committees no need to reinvent the
  wheel

4
What We Have Left To Do

• Determine number of internal members will
  affect number of external members
• Revisit long-list with OCG and DM
• Select potential members for short-list
• DM and OCG to meet with potential members
• Select members anticipate inclusion in the
  February TB Submission
• Once approved by TB obtain member security
  clearance

5
What We Have Left To Do (cont.)

• Prepare training packages for members
• Complete staffing of secretariat to support the
  Committee
• Determine new role of current Management Audit
  and Evaluation Committee
• Prepare for the unknown as all information shared
  to date indicates supporting DAC is more work
  than anticipated

6
Responsibilities Departmental Audit Committee

• Values and Ethics
• Risk Management
• Management Control Framework
• Internal Audit
• OAG/Central Agencies
• Follow-Up on Management Action Plans
• Financial Statements and Public Accounts
  Reporting
• Risk and Accountability Reporting