The Canadian Securities Administrators (CSA) has published comprehensive guidelines for effective corporate governance. The guidelines cover a broad spectrum of good governance practices and elaborate specifically on a number of major areas where boards should explicitly assume stewardship:
- Development of corporate governance principles and guidelines
- The integrity of senior management and staff throughout the organization
- Strategic planning process and approval of a strategic plan
- Risk assessment
- Integrity of internal controls and management information systems
- Succession planning and management performance
- Employee and public safety
- Communications policy.
The Board of Directors of Horizon Utilities Corporation has assumed stewardship with respect to the areas identified by the CSA and fulfills such stewardship responsibilities directly and with supporting oversight by its committees. In addition to having established written mandates for itself and each of its committees, the Board has adopted a comprehensive statement of governance guidelines. The Board has also developed roles and responsibilities for the Chair, and for each Committee Chair and the Chief Executive Officer.