Meeting Summary

Audit & Actuarial Committee – November 15, 2018

Investment Performance Reports to the SC

At its meeting on May 22, 2014, the OAC Board agreed that quarterly reporting on the results of the Primary Plan fund would be released to the OMERS Sponsors Corporation once the Audit & Actuarial Committee met and reviewed the quarterly financial results.

The AAC approved the OMERS Investment Performance and OMERS Asset Mix Exposure Report, as at September 30, 2018, with both to be provided to the SC.

Internal Audit Mandate

The Audit & Actuarial Committee Mandate requires the Global Head of Internal Audit to review and, if appropriate, recommend to the Committee changes to the Internal Audit Mandate (the Mandate).

There were no fundamental changes proposed since the Mandate was last approved in February 2018, although the Mandate was streamlined and simplified.

Following questions and discussion, the AAC approved the revised Internal Audit Mandate, effective November 15, 2018.

2019 Internal Audit Plan

The mandate and work plan of the Audit & Actuarial Committee and the Internal Audit Mandate require the review and approval of the internal audit plan of the Global Head of Internal Audit.

Following a question and discussion period, the AAC approved the 2019 Internal Audit Plan.