Resources
Audit Committees
The audit committee is a committee of the board of trustees and is responsible for oversight of the financial reporting process, selection of the independent auditor, and receipt of audit results both internal and external. The committee assists the board of trustees to fulfill its governance and oversight responsibilities in relation to the school jurisdictions’ financial reporting, internal control system, risk management system and internal and external audit functions. Its role is to provide advice and recommendations to the board of trustees within the scope of its terms of reference.
Toolkit Outline
- Introduction
- Audit Committee Operations
- Who Should be on the Audit Committee
- Functions of the Audit Committee
- Audit Committee Relationships (Communications)
- Terms/Definitions
- Appendices and Resources
- Sample Auditor's Report
- Sample Audit Committee Ad
- Sample Audit Committee Agenda
Thank you to our Committee members for putting this package of information together.
Information contained in these documents is for general reference purposes and should not be construed as legal advice. Jurisdictions should consult with their own legal counsel for the purposes of interpretation, modification or implementation.