W̱SÁNEĆ School Board maintains a system of internal accounting and administrative controls of high quality, consistent with reasonable cost. Such systems are designed to provide reasonable assurance that the financial information is relevant, reliable and accurate and the Board's assets are appropriately protected.
The W̱SÁNEĆ School Board is responsible for ensuring that management fulfills its responsibilities for financial reporting and is ultimately responsible for reviewing and approving the financial statements. The Board carries out this responsibility principally through its Finance Committee. The Finance Committee, composed of Board Members, reviews the W̱SÁNEĆ School Board's financial statements and recommends their approval to the Board. The Committee meets periodically with management, as well as the external auditors, to discuss internal controls over the financial reporting process, auditing matters and financial reporting issues to satisfy themselves that each party is properly discharging their responsibilities, and to review the annual report, the financial statements and the external auditor's report. The Committee reports its findings to the Board for consideration when approving the financial statements for issuance to the members. The Committee also considers, for review by the Board and approval by the Members, the engagement of the external auditors.
The financial statements have been audited by Brynjolfson & Co. in accordance with Canadian generally accepted auditing standards on behalf of the members. Brynjolfson & Co. has full and free access to the Finance Committee.