Committees and policies

Our Board of Directors uses two subcommittees - an Audit Committee and a Governance Committee comprised solely of independent directors to further the effective functioning of our corporate governance strategies.

Audit committee

The Audit committee's responsibilities include:

Management of the relationship with the external auditor, including the oversight and supervision of the audit of the Company’s financial statements
Oversight and supervision of the quality and integrity of First National's financial statements
Oversight and supervision of the adequacy of the First National's internal accounting controls and procedures, as well as its financial reporting practices

The Audit Committee consists of independent directors, all of whom are considered financially literate for the purposes of the Canadian Securities Administrators' Multilateral Instrument 52-110 Audit Committees.

Governance committee

The Governance committee’s responsibilities include:

Periodically assessing and making recommendations on the Company’s approach to governance issues
Assisting in the development of governance policies, practices and procedures for approval by the Board of Directors
Periodically reviewing the composition and effectiveness of the Board of Directors
Reviewing conflicts of interest and transactions involving related parties of the company

The Governance Committee consists of three directors, all of whom are independent for the purposes of the Canadian Securities Administrators' Multilateral Instrument 58-101 – Disclosure of Corporate Governance Practices.

We operate with Board-approved policies for Disclosure, Code of Business Ethics and Conduct, Insider Trading and Workplace Harassment, Sexual Harassment, Violence, and Discrimination. Our Whistleblower Policy ensures all directors, officers and employees have the means to report misconduct with financial matters in confidence.

National in scope, local in focus.

We are proud to operate from regional offices across Canada, each staffed by lending specialists dedicated to delivering value to all stakeholders.