RISK MANAGEMENT AND GOVERNANCE

RISK MANAGEMENT

RISK MANAGEMENT PROGRAM

As Canada’s national public broadcaster, CBC/Radio-Canada occupies an important place in the Canadian broadcasting system and faces a unique set of risks to its plans and operations. Like all broadcasters, the Corporation must adapt to technological changes, shifts in demographics and evolving consumer demands, as well as structural changes in the industry. Given our statutory mandate to serve all Canadians, CBC/Radio-Canada also faces unique public expectations and financial challenges.

It is CBC/Radio-Canada policy to develop, implement and practice effective risk management to ensure risks and opportunities that impact the Corporation’s strategies, objectives and operations are identified, assessed and managed appropriately.

CBC/Radio-Canada’s Risk Management Program is part of an enterprise-wide approach integrated into business processes. Responsibility for risk management is shared among CBC/Radio-Canada’s Board of Directors, the Board’s Audit Committee, the Senior Executive Team and operational units.

Internal Audit plans its audits in accordance with the results of the risk assessment process, and provides assurance that major risks are covered on a rotational basis by the annual audit plan.