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| POLICY AND ADMINISTRATION MANUAL | REFERENCE NUMBER: C36 |
|------------------------------------|-------------------------|
| SECTION: | POLICY TITLE: |
## 1. PURPOSE
- 1.1. The primary purpose of the Audit Committee is to provide advice to Council on all matters relating to audit and finance. The objectives of the Committee are to:
- 1.1.1. Fulfill the requirements outlined in Section 44 of the Municipal Government Act, and;
- 1.1.2. Assist Council in meeting its responsibilities by ensuring the adequacy and effectiveness of financial reporting.
## 2. SCOPE
- Committee. 2.1. This Policy is applicable to all members appointed to the Municipality of Argyle's Audit
## 3. REFERENCES
- 3.1. Nova Scotia Municipal Government Act (MGA) Section 44.
## 4. MEMBERSHIP
- 4.1. The Audit Committee shall consist of 3 Council members and at least 1 citizen appointment. The citizen appointments) should be an individual with financial experience or background.
- 4.2. The Chair of the committee shall be a member of Council
- 4.3. The CAO and Director of Finance shall be ex-officio members of the Audit Committee.
## 5. MEETINGS
- 5.1. The Committee shall meet at least twice a year;
- 5.2. Additional meetings may be necessary to review items relating to the audit and will be called by the chair;
- 5.3. The CAO and Director of Finance will provide staff support to the committee.
## 6. FUNCTION
## 6.1. Audit
- 6.1.1. Review the qualifications, independence, quality of service, performance and fees of the External Auditors annually and recommend the appointment of an auditor to Council;
- 6.1.2. Carry out the responsibilities of an Audit Committee contained in Section 44 of the Municipal Government Act, which are:
- 6.1.2.1. A detailed review of the financial statements of the Municipality with the auditor and management;
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| POLICY AND ADMINISTRATION MANUAL | REFERENCE NUMBER: C36 |
|------------------------------------|-------------------------|
| SECTION: | POLICY TITLE: |
| COUNCIL POLICY | AUDIT COMMITTEE |
- 6.1.2.2. An evaluation of internal control systems;
- 6.1.2.3. A review of the conduct and adequacy of the audit;
- 6.1.2.4. Such matters arising out of the audit as may appear to the audit committee to require investigation;
- 6.1.2.5. Such other matters as may be determined by the Council to be the duties of an audit committee; and
- Any other matters as may be determined by Council. 6.1.2.6.
## 6.2. Finance
- 6.2.1. Ensure the completion of meaningful financial data provided on a timely basis and ensure compliance with the reporting requirements of the provincial government;
- 6.2.2. Review with management the quarterly financial package to be presented to council and recommend approval;
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| POLICY AND ADMINISTRATION MANUAL | REFERENCE NUMBER: C36 |
|------------------------------------|-------------------------|
| SECTION: | POLICY TITLE: |
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## Chief Administrative Officers' Annotation for Official Policy Record
Date of Notice to Council Members of Intent to
May 23, 2024
Consider (7-days minimum)
Date of Passage of Current Policy
June 13, 2024
I certify that this policy was adopted by Council as indicated above.
Dinicise
Warden
111
Chief Adbinistrative Officer
Hese 15,2024
Date
Tre 18/24
Date
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| Version Log | Version Log | Version Log |
|---------------|-----------------|-----------------|
| Version # | Amendment | Date |
| 1 | Original Policy | August 19, 2019 |
| 2 | Amended | June 13, 2024 |