Infoway is accountable to its Board of Directors as well Canada's 14 federal, provincial and territorial governments represented by their Deputy Ministers of Health.
Governance and accountability structure
Accountability and reporting mechanisms
- 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 in the Annual Report.
- Annual Report to include performance results relative to the annual Summary Corporate Plan and an overview of expected results made available to Infoway's Members and the public
- Annual Summary Corporate Plan presented to the Minister of Health Canada and Infoway's Members, and made available to the public.
- Annual Compliance Audit specific to the terms and conditions of the Funding Agreements with the Government of Canada made available toInfoway'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. Read the performance reports.
- An independent performance audit (value for money audit) was conducted by the Office of the Auditor General of Canada and tabled in Parliament on November 3, 2009. The OAG praised Infoway's governance and sound practices, with some recommendations for improvements.
- Risk-based audits of project claims in selected jurisdictions.
- 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.
Additional reporting and governance practices
Over and above the practices and reporting mechanisms above, Infoway has voluntarily established the following:
- Reporting periodically to the Finance, Investment & Audit Committee/Board on investment performance of the non-disbursed portion of the principal amount in accordance with pre-established guidelines in the Funding Agreements
- Audit, Compensation and 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 funds only be dispersed once pre-set milestones are met
- Infoway aims to balance the need for public accountability with the need to effectively execute its mandate. Beginning with fiscal year 2011-12, Infoway discloses the business travel and hospitality expenses of the corporation's senior executive team. This information is currently updated on a quarterly basis and will be posted on-line within forty-five days of the end of each reporting period.