November 13, 2018
Dear division presidents and zone presidents,
The CSP Board of Directors is pleased to announce the approval of the terms of reference for the establishment of the Financial Oversight Committee (FOC), a newly formed committee whose primary responsibility is to provide oversight of all financial matters related to our organization. The FOC will have the responsibility for the CSP’s annual financial audit; risk management, control, and governance; budgeting and financial reporting; and other matters defined by the Board of Directors.
The committee will report to the Board of Directors. Committee members must be financially literate. The current FOC is comprised of four voting members. Two members with an accounting background, one with a business background, and the fourth will be the Chair of the Board of Directors (ex- officio). The President and CEO is a non-voting, ex-officio member.
The Committee members are:
- Pam FitzGerald, CPA, CSP #780, Chair
- Tim Mannery, B.Comm, DFA, CSP #831, Member
- Ross Forbes, LM #67, Member
- Anne Haley-Callaghan, LM #68, Member (ex-officio)
Members will be appointed to the committee by the Board of Directors with input from the CEO and VP Business Operations.
The approved terms of reference for this committee have been posted on the NDS.
The Alternative Analysis Group reported on their findings at the end of October from their recently completed work to the Board of Directors and the national management committee. The update provided was limited to the national and division leadership who are restricted from commenting on the report due to a non-disclosure agreement between the parties involved in the discussion. The investigation will be ongoing and further updates will be provided as available.
Anne Haley-Callaghan
Chair, Board of Directors
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