Asia-Pacific Foundation of Canada Act

Marginal note:Auditor

• 35 (1) The Board shall appoint an auditor for the Foundation and fix the auditor’s remuneration.

• Marginal note:Qualifications of auditor

  (2) In order to be appointed, the auditor must be

  • (a) a natural person who

    • (i) is a member in good standing of an institute or association of accountants incorporated by or under an Act of the legislature of a province,

    • (ii) has at least five years experience at a senior level in carrying out audits,

    • (iii) is ordinarily resident in Canada, and

    • (iv) is independent of the Board, the directors, the officers and, if any, the members of the Foundation; or

  • (b) a firm of accountants of which the member or employee, jointly designated by the Board and the firm to conduct the audit of the books and records of the Foundation on behalf of the firm, meets the qualifications set out in paragraph (a).