Board Orientation Manual 2024

13.

REPORTING AND AUDIT

13.1 REPORTING The Society is required to submit formal reports under its constitution, under the GFA and under the Society Act. 13.1.2 Under the Society Act The Society Act requires the Society to file annual returns and to update (as changes occur) the registration of Directors and Officers. 13.2 AUDIT 13.2.1 Audit Requirement Annual audits are a requirement of the BC Games Society under the terms of the GFA and the Society’s Constitution and Bylaws. 13.2.2 Auditor Selection Auditors for the Society's and host societies' audits are appointed by the Board of Directors on a five-year basis. The host society audits are paid by the host society. The appointment will, therefore, cover separate audits, as follows:  Annual Society audits; and  Audits covering the BC Winter and BC Summer Games for each of the five years. Every five years, the Board will issue a Request for Proposal (RFP) for external audit services related to the financial statements of the Society and the BC Winter and BC Summer Games host societies. The RFP is to be reviewed by the Office of the Auditor General and final approval will be made by the Board. Approval of the Society’s auditor is done at the Society’s Annual General Meeting. Once proposals have been received, a comparative schedule showing the important aspects of the bids should be prepared, against the evaluation criteria defined in the invitation of tenders. Although there is no formal requirement, a point-allotment system, providing points for outstanding attributes of firms and deducting points for less desirable attributes, may be used as an aid to arrive at a selection. 14. STANDARDS OF CONDUCT The Chair and the Board, the President and CEO, and the Society staff should be reacquainted with the expected Standards of Conduct (http://www.fin.gov.bc.ca/brdo/conduct/ethicalstandards.pdf) and behaviour as adopted by the Society. Standards of Conduct are included in the Terms of Employment document signed by each employee. 14.1 CONFLICT OF INTEREST Under no circumstances should Board members or staff place themselves in situations which may be or be perceived to be a conflict of interest. More specifically:  Board members and staff should not place themselves in situations where they are under an obligation to a person (or group of persons) who might benefit from special consideration;

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