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AUDIT COMMITTEE, AICPA MATRIX

AUDIT COMMITTEE, AICPA MATRIX. Welcome. Fiduciary Responsibility and Stewardship. Fiscal Accountability Legal Responsibility Regulatory Requirements Delegated Responsibility. The Audit. Policy of the Boy Scouts of America Definition Council Action. The Audit Committee. Purpose

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AUDIT COMMITTEE, AICPA MATRIX

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  1. AUDIT COMMITTEE,AICPA MATRIX Welcome

  2. Fiduciary Responsibility and Stewardship Fiscal Accountability Legal Responsibility Regulatory Requirements Delegated Responsibility

  3. The Audit Policy of the Boy Scouts of America Definition Council Action

  4. The Audit Committee Purpose Composition Organization Financial Expertise

  5. The Audit Committee Alternative Approaches Responsibilities

  6. Audit Committee Chairperson Job Description Qualifications General Responsibilities Specific Responsibilities

  7. The Auditor Qualifications Role Opinion

  8. A Sample Not-for-Profit Audit Committee Charter Reporting Responsibilities Composition Terms Meetings

  9. Resources Available to the Audit Committee BSA Fiscal Management Team American Institute of Certified Public Accountants

  10. Recommended Audit Committee Meeting Schedule and Timetable for Audit Work By October 1 October – December As Soon As Possible After Year-End

  11. Recommended Audit Committee Meeting Schedule and Timetable for Audit Work By May 1 By June 1

  12. Sample Letters Request for Proposal Engagement Management Management Response Representation

  13. Audit Costs Reduction Implementing Recommendations Conducting Inventory Properly Collecting Items

  14. Reviewing Financial Statements Reviewing Presentation Reviewing Accounting Policies Reviewing Conduct of the Audit

  15. Audit Committee and Internal Control Reviewing Internal Control Strengthening Internal Control

  16. Evaluating Auditors Audit Committee Members Scout Executive/ Highest Level Finance Person Highest Level Accounting Person

  17. Questions

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