Audit Committee Mission Statement
- Review all financial statements, bank reconciliations, and supporting documentation for the audit period.
- Verify that revenues and expenses have been properly recorded and that transactions align with Board-approved budgets and authorizations.
- Confirm that appropriate internal controls are in place and functioning effectively to safeguard club assets.
- Prepare an audit summary report outlining findings, recommendations, and any corrective actions needed.
- Present the completed audit report to the Board for review and approval and maintain a copy in the club’s permanent financial records.
- Coordinate with the Treasurer and other Board members to obtain any necessary records, clarification, or supporting information during the audit process.
- Recommend improvements to financial management practices or recordkeeping procedures as appropriate based on audit findings.
