Audit Committee
Charge & Membership

Audit Committee Charter and Guidelines

The Audit Committee is responsible for overseeing the quality and integrity of the University’s financial statements, ensuring institutional compliance with mandatory auditing standards, and evaluating institutional systems of risk assessment and internal controls.

The Committee will review and monitor progress on annual plans for audits and related services; select and interact with independent auditors; assess management’s response to audit findings; and evaluate the quality and effectiveness of institutional accounting procedures, the internal audit function, and institutional systems of risk assessment, internal control, and reporting.

A specification of Committee responsibilities will be set forth in a Charter approved by the Board. The Charter will be revised from time to time in light of accounting industry and legal developments applicable to non-profit corporations and institutions of higher education.

The Audit Committee shall be comprised of no fewer than four Trustees. Pursuant to the University Bylaws, the President shall not serve as an ex officio member of this Committee.*