Audit Committee

 

The Audit Committee is appointed by the Nominations and Elections Committee and is responsible for reviewing annually the Association's financial practices including the receipt and distribution of funds and the maintenance of financial records. The committee will prepare an annual report for the Executive Board of findings and recommendations regarding the Association's financial operations. The Audit Committee is a standing committee comprised of two members. The N&E will solicit nominees for membership on the Audit Committee and will appoint members from among the nominees. Initially, one member is appointed for one year who serves as Chair and one member for two years who serves as Secretary the first year and as Chair the second. Thereafter, one member is appointed each year for two years, serving as Secretary the first year and Chair the second. Each member of the Audit Committee must be independent of other duties within PACRAO. Therefore, no member of the Audit Committee may hold any other elected or appointed position within the Association as an officer or as a member of any other standing committee for the duration of their service on the Audit Committee.

The Audit Committee follows the standards outlined in the PACRAO Audit Committee Description and Procedure governing document.