There are a few layers of governance, I think. We are an independent, not-for-profit organization with an independent board of directors, subject to the Canada Not-for-profit Corporations Act. As such, we have to exhibit good governance, as well as publish audited financials every year. We have an annual report that outlines all of our activities, lists of projects, and so on and so forth. We also have an international science and industry advisory committee that provides the board with guidance on best practices and trends internationally when it comes to the kind of research we support. We have all of the elements of good governance that you would expect in any privately held organization.
On top of that, we are subject to the terms and conditions of our funding agreement with the Government of Canada, which generally follows Treasury Board guidelines. We are subject not only to quarterly reporting on financials but also to regular audits and to value-for-money audits, as well as to a regular five-year impact assessment, which is tied to our funding renewals.
There's a second layer. Because we have funding from the provinces, we are also indirectly subject to provincial oversight through the co-funding received through our regional genome centres.
Then, of course, we have governance internally on the actual dispensing of funds at the project level. We have two layers of peer review: for scientific and technical merit and for impact. We also subject all projects to independent financial assessments before the flowing of funds. They are then overseen by governance committees of experts, with quarterly reporting and milestone-driven funding arrangements.