Accountability
Canada Health Infoway Inc. (Infoway) is a federally-funded, independent, not-for-profit organization equally accountable to its Members – all 14 federal, provincial and territorial governments, represented by their Deputy Ministers of Health. Our accountability and reporting mechanisms are consistent with good governance practices and include:
- An annual audit of financial statements by an independent auditor in accordance with Generally Accepted Accounting Principles (GAAP) made available to Infoway's Members and the public.
- An Annual Report to include performance results relative to the Corporate Business Plan and an overview of expected results made available to Infoway's Members and the public.
- An Annual Corporate Business Plan presented to Infoway's Members and a summary made available to the public.
- An Annual Compliance Audit specific to the terms and conditions of the Funding Agreements with the Government of Canada made available to Infoway's Members, Board and management team.
- An independent third-party evaluation to be conducted at least every five years to measure overall performance in achieving the outcomes identified in the Funding Agreements.
- A Risk Management Framework for assessing, monitoring and mitigating risks at the enterprise level as well as collaborating with all jurisdictions at the project level.
Infoway has initiated additional reporting and sound governance practices, including:
- Reporting on investment performance of the non-disbursed portion of the principal amount in accordance with pre-established guidelines in the Funding Agreements.
- Existence of Audit, Compensation & Human Resource and Governance Committees of the Board – not required by the Funding Agreements.
- Financial and Compliance audits are conducted by separate independent audit firms.
- Infoway has also adopted a phased and gated funding approach, requiring that funds only be dispersed once pre-set milestones are met.
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