Checklist for an effective audit committee

Description

Abstract: No matter how long an audit committee has been up and running, the board of directors should monitor its performance. How is the committee doing in regard to overseeing the organization’s processes for financial reporting, internal controls and the audit? Is it ensuring that the not-for-profit complies with applicable laws and regulations and a code of conduct? This article provides a checklist designed to give a broad reading on how an audit committee is doing.