The Independent Review Committee

An Independent Review Committee (IRC) is a special committee that is required to be part of the governance structure of every investment fund that is offered to the public in Canada. IRCs are currently unique to the investment fund business in Canada, as other countries have dealt with the inherent conflict of interest involved in running public investment funds in different ways. For example, in the United States of America, mutual funds have been required to have independent directors ever since 1935.