Standardbred Canada is seeking three new candidates to serve on its Audit Committee.

The Audit Committee reports to and is selected by the Board of Directors. New members on the committee shall represent a good cross section of Standardbred Canada members in the business and accounting fields.  Candidates would ideally possess the skill sets, professional experience and knowledge of best practices that will ensure the committee meets its goals and objectives.

The Audit committee shall be composed of not less than five (5) members of Standardbred Canada who are independent of management.  Three (3) committee members shall be ‘non-Directors’ and two (2) committee members shall be Board members.

The committee shall elect its own Chair at its first meeting each year.

The term of the non-Director committee members shall be two (2) years. The term of the committee members who are Board members shall be one (1) year. There shall be a maximum of two (2) consecutive terms for each non-Director committee member. There shall be a maximum of four (4) consecutive terms for each Board member.

The responsibilities of the Audit Committee are as follows:

1. To advise the board and management about strengths and weaknesses of financial controls and practices and compliance with all legal and regulatory requirements.

2. To review and advise the Board on the financial statements, current accounting policies and practices, financial projections and analysis, the annual budget process and the audit process.

3. To review and assess the process of appointing the external auditor and appropriate fee.

4. To review the adequacy of the Audit Committee mandate annually and recommend changes to the Board for their consideration.

It is the intent that the committee will meet face-to-face at least three times per year in Mississauga, Ontario in addition to conference calls when necessary. The first scheduled meeting of the committee will most likely be in April 2017.

Committee members will be remunerated for all of their costs associated with travel and accommodation, but there is no stipend or fees for services rendered.

If you possess the attributes required to be a member of the Audit Committee, and are interested in serving, please APPLY HERE by Monday, January 9, 2017 at 4:00pm EST.

Please direct questions to:

Caren Stockwell, Corporate Secretary

Email: [email protected]

Telephone: 905-858-3060 (Ext. 258)

A copy of the SC By-Laws and Regulations is available here.