Management and Governance
EDC’s accountability to its stakeholders is facilitated by its strict adherence to the guidelines and regulations concerning the management and governance of Crown corporations set forth by the Treasury Board Secretariat of the government of Canada.Governing legislation
Board of Directors
Executive Management Team
Audit Committee of the Board of Directors
Auditor General of Canada
Compliance Officer
Corporate Social Responsibility Advisory Council
Governing legislation
As a Crown corporation, EDC operates at arm’s length from the government and according to commercial principles. The corporation’s mandate is spelled out in the Export Development Act. Under the Financial Administration Act, EDC is required to submit each year a Corporate Plan, which sets EDC’s performance measures and objectives, an Annual Report, which reports on the Corporation’s performance against these objectives, and an operating budget. EDC is also subject to audits by the Auditor General and reports to Parliament through the Minister of International Trade.
Board of Directors
EDC is governed by a Board of Directors comprised of representatives primarily from the private sector. The Board’s responsibility is to supervise the direction and management of EDC. It oversees EDC’s strategic direction, as outlined in its Corporate Plan, to ensure that it continues to meet its public policy objectives in the most effective manner. The Board reports to Parliament through the Minister for International Trade. Board members are appointed by the Government of Canada.
View the membership of EDC’s Board of Directors.
Detailed information about Board activity is contained in EDC’s Annual Report.
Executive Management Team
In addition to overseeing day-to-day operations, EDC’s Executive Management Team plans and executes the corporation’s business strategy as outlined in the Corporate Plan.
View the membership of EDC’s Executive Management Team.
Audit Committee of the Board of Directors
The Audit Committee is composed of directors who are independent of EDC management. This Committee assists the Board in fulfilling its responsibilities relating to a variety of financial matters, as well as issues relating to business ethics, environmental review and EDC’s compliance program. This Committee regularly meets independently with representatives of the Office of the Auditor General and EDC’s internal auditors.
In keeping with the best practices for good governance, the Terms of Reference (as of December 8, 2006, PDF Format) for the Audit Committee of the Board of Directors are reviewed on an annual basis. These terms outline the Committee’s composition, purpose, areas of responsibility and related work.
Auditor General of Canada
EDC’s auditor is the Auditor General of Canada, as stated in Section 134 (2) of the Financial Administration Act, the legislation governing the management of many Canadian Crown corporations, and in section 21 (1) of the Export Development Act, the legislation under which EDC was established.
The Auditor General performs special examinations and annual financial audits of EDC. In addition, the Auditor General audits the implementation of EDC’s Environmental Review Directive. EDC is a seven-time winner of the Auditor General’s Award for Excellence in Financial Reporting.
Compliance Officer
EDC’s Compliance Officer enhances transparency and accountability in areas such as disclosure of information, environmental review, human rights and business ethics by acting as an independent body to respond directly to public concerns about EDC policies or practices. The Compliance Officer operates independently from EDC management, and provides a centralized function for receipt and review of complaints from stakeholders.
Corporate Social Responsibility Advisory Council
As part of its effort to continually improve its social responsibility practices, EDC has created a Corporate Social Responsibility Advisory Council of prominent leaders to provide advice and guidance to EDC.
