Telus 2012 Annual Report Download - page 40

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40
materially affect the financial results and whether they should be
disclosed in the MD&A;
b) emerging accounting issues and their potential impact on the Company’s
financial reporting;
c) significant judgments, assumptions and estimates made by management
in preparing financial statements;
d) the evaluation by either the internal or external auditors of management’s
internal control systems, and management’s responses to any identified
weaknesses;
e) the evaluation by management of the adequacy and effectiveness in the
design and operation of the Company’s disclosure controls and internal
controls for financial reporting;
f) audits designed to report on management’s representations on the
effectiveness and efficiency of selected projects, processes, programs or
departments;
g) management’s approach for safeguarding corporate assets, data and
information systems, the adequacy of staffing of key financial functions
and their plans for improvements; and
h) internal interim and post implementation reviews of major capital projects.
4.6 Credit Worthiness, Treasury Plans and Financial Policy
The Committee will review with management:
a) the Company’s financial policies and compliance with such policies;
b) the credit worthiness of the Company;
c) the liquidity of the Company; and
d) important treasury matters including financing plans.
4.7 Legal/Regulatory Matters and Ethics
The Committee will review:
a) with management, the external auditors and legal counsel, any litigation,
claim or other contingency, including any tax assessment, that could have
a material effect upon the financial position or operating results of the
Company;
b) annually, management’s relationships with regulators, and the accuracy
and timeliness of filings with regulatory authorities;
c) annually and recommend to the Board for approval, together with the
Human Resources and Compensation Committee, the ethics policy and
material changes thereto;
d) quarterly reports on ethics breaches pertaining to internal controls over
financial reporting, including fraud involving management or other
employees who have a role in the Company’s internal controls over
financial reporting;