Board Orientation Manual 2024

3.2.10 Independent Audit The Society shall ensure that annual independent audits are carried out to satisfy the requirement under the GFA. Internal audit reviews may be undertaken at the request of the Board of Directors or the President and CEO. 4. SIGNING AUTHORITIES 4.1 SIGNING AUTHORITIES MATRIX The Signing Authorities Matrix lists the main financial functions and the directors, officers, and/or staff of the Society who have approval or signing authority for that function. Matrix Key:  “A” means that the individual(s) noted must APPROVE by signing, following the online banking process, or other means established to confirm approval of the transactions.  “R” means that the individual(s) noted RECOMMENDS but approval is required from the higher-level director, officer, or staff on the authority matrix as noted for each type of process or transaction.  “P” means that the individual(s) noted PROCESSES and provides to the higher-level director, officer, or staff on the authority matrix as noted for each type of process or transaction.

Authority

Operations and Technology Manager

President and CEO

Bookkeeper / Accountant

Financial Function

Board Chair

Board

Financial Policy and Procedures

Approve new or amended financial policies and procedures, as recommended by Finance Committee. Approve changes in signing authorities on Society bank accounts Budget Authorize annual budget Changes to actuals that impact surplus (loss) Reallocation of account expenditures within the approved budget

A

R

R

P

A

A

R

A

R

A

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