Page 71 - 2012_Annual Report

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As per the Casino Operating Agreement, SIGA, having
met the requirements of sustained progress, a change in
the structure and composition of the SIGA Board took
place on January 30, 2008. The new Board structure is
comprised of no more than 13 Directors and will have a
Senate appointment as per the FSIN Legislative Assembly
Senate Act. The 2011/12 Directors are as follows:
• Chief Edward Henderson
• Tribal Chief Felix Thomas
• Chief Reginald Bellerose
• Chief Brian Standingready
• Robert Gerow
• Chief Richard Ben
• Carole Bryant
• Chief Larry Ahenakew
• Chief Perry Bellegarde
• Chief Delbert Wapass
• Amanda Louison Joined the Board in March 2012
• Kevin Poock Joined the Board in February 2012
• Isabel O’Soup left the Board October 2011
• Gary LaPlante left the Board August 2011
• Kirk Goodtrack left the Board in August 2011
The Board also has an Advisor:
• Senate Advisor, Roland Crowe
COMMITTEE STRUCTURE
The Board may appoint any committees that it considers
necessary for the efficient conduct of the affairs and
business of SIGA and may prescribe the duties of any
committee it appoints. It is important to note that
assignment of responsibility by the Board to a committee
does not absolve the full Board from responsibility for a
committee’s work or decisions. The Chair is ex-officio on
all committees and may attend any meeting as deemed
appropriate. All committees have established terms of
reference governing their conduct and mandate.
The Board has three (3) committees with established
terms of reference governing their code and mandate.
These three committees are as follows: Audit and Finance,
Governance (includes, Human Resource, Compensation &
Ethics and Governance mandates) and Strategic Affairs.
AUDIT AND FINANCE COMMITTEE – ISABEL O’SOUP,
CHAIR AND CAROLE BRYANT, CHAIR
The Audit and Finance Committee monitors the financial
performance and internal controls of SIGA, assesses risk
management strategies, and acts as a liaison between
the internal and external auditors and the Board. This
committee is responsible for the internal audit function
and has retained an independent internal auditor who has
unimpeded access to corporate information and reports
directly to the Audit and Finance Committee. SIGA ‘s
internal auditor is Price Waterhouse Coopers (PWC). The
fee for the internal audit function for the fiscal year is
$754,188.64. The committee monitors internal controls
over the financial reporting process, auditing matters and
financial reporting issues. The SIGA audit is completed
by the audit firm Deloitte and Touche. In addition to
the statutory audit requirements, Deloitte and Touche
submits management letters that contain internal control
recommendations and identification of management and
system control risks. Deloitte and Touche has examined
the corporation’s financial statements and issued an
auditor’s report included in this annual report. Deloitte
& Touche provided non-audit services (IFRS conversion
related work converting from Canadian GAAP to IFRS) of
$7,836.56 and (presentation/speaking fees) of $1,611.92.
This committee met six times in the 2011/12 fiscal year.
STRATEGIC AFFAIRS COMMITTEE –
PERRY BELLEGARDE, CHAIR
The Strategic Affairs Committee is mandated to ensure
that there are sufficient processes in place to develop,
maintain and monitor the strategic plan, provide direction
on shareholder and stakeholder relations and review
and provide direction on new business opportunities.
The Strategic Affairs Committee is also responsible
for reviewing, assessing and monitoring strategic level
risk in SIGA’s risk management plan and ensuring the
appropriate risk mitigation strategies are in place. Further,
the Committee will review and provide recommendations
on the Casino Operating Agreement and the Framework
Agreement. The committee met four times in 2011/12
fiscal year.