Lesson 12, Section 3
12.3 Documentation & Audit
FRP or host agency maintains written fiscal policies and procedures including internal control practices and may engage an external auditor or reviewer annually.
Benchmark Quality Indicators
- FRP or host agency maintains written fiscal policies and procedures including internal control practices.
Innovation and Promising Practices
- FRP or host agency conducts an annual financial audit or review, employing an independent chartered accountant.
- If an audit or review generates recommendations, the FRP or host agency corrects material matters or documents reasons why the material matters will not be corrected.
- FRP or host agency, with their auditors, prepare a user friendly version of the annual audit to make publicly available.
- Twice per year the FRP or host agency board or a board committee receives confirmation that CRA remittances were made.