Audit Committee Certified Graduates

Congratulations to the graduates of The Directors College* Audit Committee Program. These graduates have successfully completed the Audit Committee Program and rigorous individual exam, to be granted the privilege to use the official mark Audit Committee Certified (A.C.C.)

The Audit Committee Program was developed in partnership with, and delivered by faculty from, Deloitte Touche, McCarthy Tetrault, and Financial Executives International Canada along with experienced Audit Committee Chairs and behavioral experts.

A.C.C. Graduates

Mr. Peter Ostapchuk, A.C.C.
President and Insight Principal, icorp.ca inc.


Peter Ostapchuk CA, ICD.D, ACC, CA•IT is the Founder and President of icorp.ca inc.. Peter has over 25 years of private and public sector business advisory, governance, integrated control, performance management, and risk oversight expertise.

He is a graduate of McMaster University, a Chartered Accountant, an accredited director through the ICD.D designation of the Institute of Corporate Directors, Audit Committee Certified (ACC) through the Directors College, and specially designated in information technology as a CA•IT.

Prior to establishing icorp.ca, (www.icorp.ca) Peter was a Principal Advisor with PricewaterhouseCoopers, and Ernst & Young, risk management analyst with the Canada Deposit Insurance Corporation, and formerly the Deputy Chief Financial Officer for a federal Crown corporation, with an ex-officio seat on the Audit and Finance Committee of the Board of Directors.

Peter sits on the board of Alterna Bank and Alterna Savings, a consolidated financial institution with assets under administration in excess of $2.3 Billion. Peter is the Vice-Chair of the Finance and Audit Committee (FAC) and member of the Conduct Review Committee of the Bank board, and is Chair of the Risk Oversight Committeee, member of the FAC, and Business Oversight Committee of Alterna Savings, and formerly sat on the HR and Pensions Committee. Peter also sits on the CA.IT Marketing and Member Services Committee of the CA.IT board of the CICA, and sits on the Royal Ottawa Hospital Foundation Investment Committee of the Board.

icorp.ca inc. is a business strategy and performance management consulting firm that specializes in the provision of insight, performance based business strategy, and cohesive governance.

Peter's principal areas of expertise are corporate governance and control, business and performance transformation, management accountability, information and disclosure management, and enterprise risk oversight.

Peter's experience and perspective on the role of risk oversight committees and audit committees in the private and public sectors is broad and deep. As part of the team with the former Comptroller General of Canada, Peter worked intimately in the design and drafting of the new Treasury Board financial management policy framework for the government of Canada that included the design and content development of all five policy instruments. Peter was also intimately involved with the Assistant Comptroller General of Canada (who acted as the Secretary to the senior committee of deputy ministers and external chief financial officers) in the drafting of the "Report of the Senior Committee on the Review of the Financial Management Framework of the Government of Canada". Peter understands the dynamics of executive level governance and oversight discussions, both at the centre and across the business, and has shaped the role and mandate of newly constituted independent audit committees.

Peter has acted as advisor to senior levels of the Treasury Board Secretariat and Office of the Comptroller General of Canada, and has nurtured relationships with chief financial officers and assistant deputy ministers across the government of Canada.

His advisory role over the past fifteen years has focused on briefings with strategic files, performance management and control issues, and related disclosures at executive management committee levels, including separate briefings on governance and risk oversight for executive committees and senior management. Peter's expertise and experience for risk and audit committee requirements is very well positioned.

In relation to performance management and governance, Peter was the principal author of the numerous financial management frameworks and remains as a strategic advisor to CFOs. These same financial management frameworks were recently adopted by the Treasury Board Secretariat and Department of Finance. Peter is currently advising a number of Tier 1 chief financial officers and accounting officers in the design and development of the entity level control strategies and implementation, which involves extensive coordination around risk and audit committee mandates, charter clarification and governance frameworks.

Peter has comprehensive knowledge of new independent audit committee requirements, and extensive knowledge and experience with internal control frameworks and compliance responsibilities outlined in the new TB FMPF, Senate Bill S-201, in National Instrument 58-101 for Corporate Governance Practices, Multilateral Instrument (MI) 52-110 for Audit Committees, and executive certifications and disclosures required under the MI 52-111, Reporting on Internal Control Over Financial Reporting. These instruments represent best practices and will inform risk and audit committee deliberations and considerations.

As an executive team player, Peter is comfortable in complex environments and oversees strategy for planning, comprehensive internal control over performance reporting, governance and oversight, financial statement disclosures, and quarterly performance disclosure requirements, including comprehensive financial statement discussion and analysis reporting.

Peter possesses the financial competencies required of a risk and audit committee member, is independent and secret security cleared, remains a dedicated professional, and is seeking to share his expertise with private sector boards. Peter recognizes that the current transformation in performance management governance and oversight across private and public sectors is unprecedented, and he has been at the centre of this transformation. Peter would like to be a value added contributor to this success.

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What our graduates say?

“I thought the entire program was very well developed and comprehensive. You never know what to expect when you sign-up for these programs and this exceeded my expectations and was a great learning opportunity.”

James Scongack, Head of Corporate Affairs, Bruce Power LP

“I found the Chartered Director Program to be an excellent forum to understand how strong governance complements effective management. The ability to create and execute an effective strategy is significantly enhanced by a robust process inclusive of board engagement where the right questions are asked and expected outcomes are identified. I truly enjoyed the setting which fostered a strong level of interaction that was supported by quality presentations and material. As CEO of a Shared Service Organization set to deliver benefits to its members, I see the advantage of having a number of our board members participating in this program.”

Tony Di Emanuele, MBA, C.Dir., President and CEO, Mohawk Shared Services

“I found the Directors College to be an excellent survey of the important matters of which a director must be aware in today’s corporate environment. The quality of the presentation and materials was first-rate and the perspectives gained were invaluable. I would highly recommend the Directors College.”

The Honourable John Manley, P.C., O.C., C.Dir., Former Deputy Prime Minister and Finance Minister

“The changes that impact corporate governance are establishing a pattern of increased accountability for the delivery of long-term value to customers, shareholders, employees and society. Proper corporate governance is now being defined to include knowledge of critical elements such as risk management and the measurement of strategic performance. At the end of the day, each board will be judged on its ability to effectively deliver value, rather than on its structure. The Directors College innovative program fills a unique and important gap in providing knowledge and insight as to how this expectation can be met. CMA Canada is pleased to be a sponsor of this timely initiative.”

Steve Vieweg, C.Dir., Director, Executive Development, I.H. Asper School of Business – University of Manitoba

“As an organization focused on educating corporate secretaries, the ICSA believes in furthering the potential of board members to better contribute to building effective governance structures. Given the key role of directors and corporate secretaries in applying proper boardroom practices, corporations need to ensure that these individuals meet a professional standard. The Directors College curriculum covers all the formal regulatory issues for directors and also addresses the informal skills of building effective and appropriate relationships with senior management. We see significant benefits to this program and ICSA is pleased to endorse it.”

Lynn Beauregard, Executive Director, Chartered Secretaries Canada

“The Directors College has developed a director education program which goes well beyond the fundamentals to address the structures and the behavioural components of principle-based governance. I am proud to be associated with the Directors College and I am honoured to lend my name to the College’s graduate award. ”

Gilbert Bennett, Director and Recently-Retired Chairman of the Board, Canadian Tire Corporation Limited

“Our strategy is to raise the horizons and potential of directors by deepening and enriching their knowledge and application of advanced skills. Increasing the effectiveness of existing directors and broadening the pool of potential directors will contribute to the professionalism of boards across Canada.”

David Beatty, Managing Director, Canadian Coalition for Good Governance