HC-10.6.4
These provisions should include but should not be limited to the following:
(a) The CEO should have authority to act generally in the investment firm licensee's name, representing the investment firm licensee's interests in concluding transactions on the investment firm licensee's behalf and giving instructions to other senior managers and investment firm licensee employees;
(b) The chief financial officer should be responsible and accountable for:
(i) The complete, timely, reliable and accurate preparation of the investment firm licensee's financial statements, in accordance with the accounting standards and policies of the investment firm licensee (see HC-10.3.2); and
(ii) Presenting the Board with a balanced and understandable assessment of the investment firm licensee's financial situation;
(c) The corporate secretary's duties should include arranging, recording and following up on the actions, decisions and meetings of the Board and of the shareholders (both at annual and extraordinary meetings) in books to be kept for that purpose; and
(d) The internal auditor's duties should include providing an independent and objective review of the efficiency of the investment firm licensee's operations. This would include a review of the accuracy and reliability of the investment firm licensee's accounting records and financial reports as well as a review of the adequacy and effectiveness of the investment firm licensee's risk management, control, and governance processes.
January 2011