Budget Implementation Act, 1998

Marginal note:Audit committee

• 42 (1) The Board shall appoint an audit committee, consisting of not fewer than three directors, and fix the duties and functions of the committee.

• Marginal note:Internal audit

  (2) In addition to any other duties and functions it is required to perform, the audit committee shall cause internal audits to be conducted to ensure compliance by the officers and employees of the Foundation with management and information systems and controls established by the Board.