Effective audit committee administration is essential for overseeing financial reporting, internal controls, and audit processes within not-for-profit organizations. This article outlines best practices for committee composition, meeting structure, key responsibilities, and self-assessment to ensure accountability and transparency.
Note: Not every organization will have all the positions referenced in this resource, nor will every organization have different individuals in each position.
Audit Committee Procedures
Audit committee administrative procedures typically include, but are not limited to, the following:
Develop an audit