The Audit Committee provides independent oversight into the organization's accounting and financial reporting and oversees the organization's annual audit. The Audit Committee oversees, with the approval of the board of governors, the following range of areas:
Governance
Ethics
Adequacy
of internal controls (i.e. review of accounting or fiscal operations
manual)
Proper
authorization of activities and expenditures
Review
of the tax-exempt status and identification of activities that could
jeopardize this status
Protection
of employees raising concerns about serious accounting or
auditing irregularities
Selection
and appointment of the independent auditing firm