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The Institute of Chartered Accountants of Newfoundland is a self-governing body representing approximately
600 members and 55 students. Incorporated on March 31, 1949, under The Chartered Accountants Act, the
Institute has a mandate to serve and protect the public interest and to enhance the Chartered Accountancy
profession. This is achieved through the high level of professional and ethical standards set for its members
and maintained through its own activities and governing legislation.
The Institute is governed by a Board of eight
elected members and two public representatives. Board members serve two-year terms with a maximum limit of
three consecutive terms. Terms are staggered such that approximately one-half of the Board are elected each
year to provide greater continuity in any one year, while maintaining an annual election. The Board meets
approximately six times a year to represent the interests of the members of the Institute and to represent
the public interest in determining and demanding appropriate organizational performance.
Committees of the Board exist to assist the Board
fulfil its governance mandate.
Self-regulatory committees exist to carry out the
primary function of the Institute – to protect the public interest. Self-regulatory committees are
accountable to and report directly to the Board.
Special committees are accountable to the
Board.
Committees advisory to management are accountable to the CEO and
are struck to assist the CEO in fulfilling her responsibilities.
The Institute maintains a close affiliation with the Canadian
Institute of Chartered Accountants (CICA)and each provincial institute of Chartered Accountants. The
senior executive (staff) of each provincial institute and the CICA are members of a national committee which
meet regularly to discuss operational issues, provide policy input or recommendations to the national board,
and generally to ensure that timely and meaningful communication continues across the country.
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