The responsibilities of the Committees of the Board set forth as below:
Audit Committee | Compensation, Nominating and Corporate Governance Committee
Audit Committee Responsibilities
The Audit Committee is responsible for:
- monitoring the Fund's systems and procedures for financial reporting, risk management and internal controls;
- reviewing all public disclosure documents and monitoring the performance of the Fund's external and internal auditors;
- reviewing the Fund's quarterly and annual financial statements and management's financial analysis and review of operations prior to approval by the full board of trustees and release to the public;
- appointing the Fund's external auditors, subject to shareholder approval; and
- approving the assignment of any permitted non-audit work to be performed by the external auditors.
(return to top)
Compensation, Nominating and Corporate Governance Committee
The Compensation, Nominating and Corporate Governance Committee is responsible for:
- reviewing and making recommendations concerning the appointment of officers;
- making recommendations concerning the remuneration of Trustees;
- administering and making recommendations regarding the operation of any long-term incentive plan and any other employee incentive plans. In reviewing the adequacy and form of compensation and benefits, the committee seeks to ensure that the compensation and benefits reflect the responsibilities and risks involved in being a Trustee of the Fund and align the interests of the trustees with the best interests of the unitholders;
- reviewing the performance of the Manager and dealing with any contractual issues;
- developing the Fund’s approach to governance issues,
filling vacancies among the Trustees;
- periodically reviewing the effectiveness of the Trustees and the contribution
of individual Trustees, including an annual evaluation of the effectiveness
of the board as a whole, the committees of the board and the contributions of individual trustees;
- adopting and periodically reviewing and updating the Fund’s written disclosure policy.
- considering other matters as directed by the board.
(return to top)
