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Toronto Hydro CR Report 2016

OUR PEOPLE GRI General Standard Disclosures: G4-34, G4-40, G4-51, G4-56, G4-57, G4-58 GRI Specific Indicators: G4-SO4 G4-57 G4-58 Code of Business Conduct and Whistle Blower Procedure All employees, officers and directors of the Corporation are required to comply with the principles set out in the Code of Business Conduct and Whistleblower Procedure (“the Code”), which was originally implemented by Toronto Hydro in 2003, and is reviewed and approved by the Board on an annual basis. The Code provides guidance to all employees in situations of perceived conflict of interest. All employees, officers and directors of Toronto Hydro are required to complete training in respect of the Code and sign an attestation in accordance with the Code upon commencement of employment and every three years thereafter. The Code provides for the appointment of an Ethics Officer and establishes a direct hotline to the Ethics Officer by which perceived violations of the principles set out in the Code may be reported, anonymously or otherwise. Where the complaint involves the conduct of a director or officer of the Corporation, the Ethics Officer is required to report it to the Chair of the Human Resources and Environment Committee of the Board, or, where such conduct relates to questionable auditing or accounting matters, to the Chair of the Audit Committee of the Board, who oversees the investigation of that complaint. In addition to the provisions of the Code, the Ethics Officer reports quarterly to the Human Resources and Environment Committee of the Board on the nature of complaints received and the Director, Internal Audit reports quarterly to the Audit Committee on matters related to audit and accounting. A copy of Toronto Hydro’s Code of Business Conduct and Whistleblower Procedure is available on the SEDAR website at sedar.com Internal Audit Internal Audit is an independent and objective business unit within Toronto Hydro that provides objective assurance and consulting services designed to add value and improve operations. Internal Audit uses a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, internal control procedures and governance processes to support management. Through active engagement, Internal Audit promotes and embeds a proactive risk management culture throughout the organization. The internal audit function maintains its independence through its reporting structure with a direct reporting line to the Corporation’s Chair of the Audit Committee. Internal Audit maintains an “Audit Universe” that’s aligned with the various business functions at Toronto Hydro. This “Audit Universe” is organized by auditable entities that are individually assessed for risk with the executive, annually, if not more often, to confirm and update the risk assessment and identify emerging risks and opportunities. High and medium risk areas are audited based on established cycles ranging from two to five years. Internal Audit also provides advisory services on internal control design, governance and other projects as requested by the Board of Directors or executive team. 64 TORONTO HYDRO I 2016 CORPORATE RESPONSIBILITY REPORT


Toronto Hydro CR Report 2016
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