Standing Committee on Audit

The Audit Committee ("Committee") is an independent, standing committee of the Association established pursuant to §31.7 of the Association's Bylaws. It consists of seven members, including the Treasurer (an ex-officio member with vote). Three members are not members of the Board of Governors, and three are. These six members are appointed by the Board of Governors upon recommendation of the President. The President annually designates the Chair.

The Committee

The Committee recommends the selection and compensation of the Association’s independent auditors for approval by the Board of Governors. It also reviews, for the Association, the results of external audits and related reports for all financial statements. The Committee reviews the Association’s system of internal controls for accuracy of financial statements, efficiency of operations, and compliance with laws and regulations. Another major responsibility of the Committee is to review the internal audit function of the Association and the internal audit plan for each fiscal year. The Committee also reviews the Association’s Ethics Program and hotline calls to evaluate the effectiveness and efficiency of the program and consistency of responses and disciplinary or corrective actions.

Finally, it is the responsibility of the Committee to receive, investigate when necessary, and cause response to be made to inquiries or complaints by any member or employee of the Association concerning financial operations of the Association.

Communications to the Audit Committee can be made by letter or email to the attention of the Chair or any member at the addresses under their names, below.

The Members