WUSA Audit Committee

3 weeks ago


Waterloo ON, Canada Waterloo Undergraduate Student Association (WUSA) Full time

Term: May 2024 thru April 2025
Positions Available: 4 at-large seats
Hours: Approx. 4-8 hours per month (some committees may meet more frequently). This includes checking-in with committee chair biweekly on upcoming business.

This role is hybrid, so undergrads can still apply if they are unable to attend meetings in person as virtual options will be available.

Qualifications:

  • Current undergraduate student at the University of Waterloo.
  • Available to meet at least once per month for the duration of the role.
  • Role cannot be done concurrently with paid part-time or co-op employment at WUSA due to Board Policy.

Key Competencies:

Note: we do not expect any individual to have all of these competencies

  • Passion and motivation for deliberative processes and decision-making
  • Mindset for accounting and finance and the importance of oversight and controls
  • Able to listen and take diverse perspectives into account, understanding the importance of equity in decisions
  • Knowledgeable about different aspects of the University of Waterloo community
  • Flexible and creative problem-solving focus
  • Experience synthesizing and drawing themes from experiences and regulations

Responsibilities:

  • To attend the meetings of the committee
  • To read prepared materials in advance of meetings
  • To have respectful, professional discussions at committee meetings
  • To communicate any conflicts of interest with the chair of the committee to ensure fair and equitable decisions
  • This committee will have staff secretarial support to provide context if needed. This is also a great opportunity for anyone who might want to explore further leadership roles in the future.

AUDIT COMMITTEE

MANDATE: To oversee annual and special purpose audit processes on behalf of the
Board and advise the Board on the approval of financial statements.

COMMITTEE RESPONSIBILITIES:

  • to regularly scrutinize, with assistance from the external auditors, the corporation’s system of internal controls, compliance procedures, and financial reporting processes;
  • to review the results of the annual audit as prepared by the external auditors;
  • to recommend to the Board the approval or non-approval of the audited financial statements;
  • to recommend to the Board a retention or change of external auditors;
  • to review the performance of the external auditors;
  • to advise the Board on the approval of the external auditors’ proposed scope and fees;
  • to recommend such special purpose audits to the Board as deemed prudent and expedient; and,
  • to perform the responsibilities of a committee established in the corporate bylaws.

No resumé necessary. Please include a statement outlining your interests and any past relevant experience from other roles. It is important to state why you would like to work on that committee.

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