Appendix A – Audit Criteria
| Objective | Criteria |
|---|---|
| Oversight: VAC has a governance framework that ensures adequate oversight of VAC activities and supports the delivery of results | VAC has a governance framework that sets its strategic direction, and manages and oversees its activities or supports its strategic direction. |
| VAC's governance bodies have clearly communicated mandates that include, as appropriate, roles with respect to both oversight and strategic direction. | |
| Authority, responsibility and accountability is clear and communicated | |
| A documented approach to risk identification, assessment and management is in place and is being used to support operations. | |
| The organization has a documented corporate values and ethics document, code of conduct and/or equivalent policy. | |
| A clear organizational structure is established, documented, and accessible. | |
| The organization has processes and practices to ensure change initiatives are properly implemented. | |
| Strategic Direction: VAC’s governance mechanisms adequately establish, document and communicate the strategic direction for the organization, and support the continuing alignment of its strategic and operational plans to its strategic direction through monitoring of their implementation and performance. | VAC’s external and internal environments are monitored to obtain information that may signal a need to re-evaluate the organization's objectives, policies and/or control environment. |
* The audit team confirmed that all of the above criteria were met unless otherwise stated in the audit report.