Committees

Audit and Finance Committee

The Board of Directors oversees management’s responsibilities for financial reporting through its Audit and Finance Committee. This Committee reviews the financial statements and recommends them to the Board of Directors for approval and submission to the Members for their approval. The Board of Directors approves the CFI's financial controls and audits and is accountable to the Members. Other key responsibilities of this Committee include reviewing the budgets, internal control procedures, investments, and advising the Directors on auditing matters and financial reporting issues.

Albert Friesen, Chair

Carolyn Cross

Bill Driedzic

Kevin P. D. Smith

Gordon Stovel

Investment Committee

The Investment Committee oversees all matters related to the investment management of amounts received from the federal government in accordance with the Funding Agreement. This Committee establishes an investment strategy and an investment policy which are reviewed annually.

Gordon Stovel, Chair

Albert Friesen

Kevin P. D. Smith

Governance and Nominating Committee

The Governance and Nominating Committee ensures that the proper framework is in place for the CFI to operate in the most efficient and accountable manner. Among other things, this Committee is responsible for amendments to by-laws, human resources policies, succession planning, the annual performance evaluation of the President, and the code of conduct that governs the Board of Directors, CFI employees, and reviewers.

The Committee regularly reviews Board effectiveness and establishes procedures to follow when filling vacancies on the Board and for Members.

Directors and Members are nominated, and then appointed for a three-year term for Directors, and for a five-year term for Members. The Board has chosen to use the guidelines established by the Government of Canada entitled, “Remuneration Guidelines for Part-Time Governor in Council Appointees in Crown Corporations”.  Directors who opt to receive remuneration from the CFI are entitled to an annual retainer of $5,000, while committee chairs receive $7,500. They are also entitled to receive a per-meeting fee of $750 for attending Board or committee meetings, and a $500 fee for attending a committee meeting associated with a Board meeting. Members are not entitled to any remuneration. However, they may be reimbursed for any reasonable out-of-pocket expenses they incur while performing their duties or attending CFI member meetings.

Sheila Brown, Chair

Rod McInnes

Louise Proulx

Kevin P. D. Smith

John Weissenberger