Page 42 - 2007_2008_Annual_Report

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Human Resources and Compensation Committee – Gary LaPlante & Edward Henderson, Chairs
The objective of the Human Resources and Compensation Committee is to assist the Board of Directors in
meeting their responsibilities by monitoring and reviewing human resource and compensation strategies,
policies and procedures. This committee met six times in the 2007/08 fiscal year.
Ethics Advisory Committee – Carole Bryant & Edward Henderson, Chairs
The Ethics Advisory Committee is responsible for monitoring the best practices in corporate ethics and
annually reviewing the Authority’s ethics policies, processes and practices to ensure that the Authority
continues to exemplify high standards of corporate ethics. The committee monitors compliance with
the Code of Conduct, Conflict of Interest and Disclosure of Wrongdoing policies on behalf of the Board.
This committee met ten times in the 2007/08 fiscal year.
Governance Committee – Delores Burkart & Edward Henderson, Chairs
The Governance Committee is responsible for, and reports to the Board about, the corporate
governance processes of the Board. SIGA is committed, pursuant to the Casino Operating Agreement, to
implementing the recommendations for governance of the Canadian Institute of Chartered Accountants.
The Governance Committee monitors the functioning of the Board and committees of the Board,
and recommends governance issues to be discussed by the Board and committees of the Board. It is
also responsible for ensuring timely and complete information and decision-making at the Board and
committee levels. The Governance Committee is responsible to ensure annual review of the Terms of
Reference of the Board and its committees. The Committee coordinates the annual evaluations of the
Board, the Board Chair, Committees and the Director’s Self Assessments. The Governance Committee
also oversees the annual evaluation of the CEO. The Board engaged with Shercon Associates Inc., an
independent third party, to conduct all of the aforementioned evaluations. This committee met thirteen
times in the 2007/08 fiscal year.
Governance Practices
The SIGA Board has implemented a comprehensive set of governance practices. To ensure that SIGA
continues to exemplify high standards of corporate governance, an audit of all governance practices
was completed by the audit firm Prosser and Associates
On June 30, 2005, the Canadian Securities Administrators CSA National Policy 58-201 on Corporate
Governance Guidelines and National Instrument 58-101 on Governance Disclosure Rules came into
effect. The CSA standards supercede the Toronto Stock Exchange Corporate Guidelines, which is one
of the instruments the Board used previously to assess its practices.
According to the audit firm of Prosser and Associates, SIGA’s current Governance practices substantially
align with the guidelines set out by the Canadian Securities Administrators (CSA) Corporate Governance
Guidelines National Policy 58-201 and Guidelines for Disclosure of Corporate Governance Practices
National Instrument 58-101.
The National Policy and Instrument address areas of best practice in corporate governance. Unlike a
publicly-held entity, SIGA is not required to comply with these policies. The corporation, however, has
adopted an approach of benchmarking itself to these standards.
SIGA’s alignment with the CSA Corporate Governance Guidelines is set out in the following scorecard: