Particular Chapter

OPERATIONS COMMITTEE

Audit Committee

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COMMITTEE ACTION PLAN

About the Audit Committee

The Audit Committee is an integral part of the accountability and governance of the Society. It plays a key role assisting the Board of Directors in carrying out its legal and fiduciary responsibilities, particularly with regard to the integrity of the Society’s financial information and internal control.

To join one of our operational committees, which requires permission from NYCPA staff, please complete the application below to be considered. NOTE: You must be an active NYCPA member to complete the form.

COMPLETE OPERATIONAL COMMITTEES APPLICATION

If you have any questions, please contact the manager of committees and technical resources, Keith Lazarus, at 212-719-8378 or klazarus@nysscpa.org. 

What we do:

The Audit Committee undertakes various activities in order to meet its objectives. These activities include:

  • Approval of the overall scope of the audit to be conducted by the external auditors
  • Assisting in ensuring that the audit is conducted in a cost-effective, timely manner
  • Reviewing the Society’s financial statements and recommending to the Board of Directors the approval of those financial statements
  • Reviewing management commentary letters issued by the external auditors and overseeing management’s implementation of recommendations
  • Overseeing the Society’s internal control with regard to financial reporting
  • Recommending to the Board of Directors the appointment of the external auditor
  • Reviewing any non-audit services provided by the external auditor to ensure that these services would not impair the external auditor’s independence

Who should join:

Committee members should have significant financial accounting experience and should be independent of management and the external auditors.