University of Vermont

Board of Trustees

Audit Committee

Audit Committee

Audit Committee Charter and Guidelines

The Audit Committee is responsible for overseeing the quality and integrity of the University’s financial statements including the selection of, and effective interaction with, the independent auditor;  and promoting the development and monitoring the effectiveness of institutional systems of risk management, internal controls, accounting procedures, and compliance with laws and regulations.

The Audit Committee has full authority over the internal audit function including the appointment, evaluation, and termination of the chief internal auditor.

The Committee will review and monitor progress on annual plans for audits and related services ensuring that the plans encompass significant and material aspects of University operations;  assess the quality and timeliness of management’s response to audit findings and investigations; and  review and make recommendations to the Board regarding institutional policies relevant to the Committee’s charge, such as conflict of interest, fraudulent conduct, whistleblower protection, and documents retention.

A specification of Committee responsibilities shall be set forth in a Charter approved by the Board of Trustees. The Charter shall 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 Board of Trustees shall annually appoint at least 5 of its members to the Audit Committee.  Its members shall be independent of management and the University including its component units and affiliated organizations.  Pursuant to the University Bylaws, the President shall not serve as an ex officio member of this Committee.

Trustees
Representatives

Bernie Juskiewicz (chair)
 Jeff Wilson (vice chair)
Otto Berkes
Sidney Hilker
Curt McCormack
Ed Pagano
Shap Smith

Barbara Arel (faculty)
TBD (alumni)
Mindy Kear (staff)
Jared Percoco (student)
Aayudh Das (graduate student)
Doug Hoffer (Vermont State Auditor)


Agendas & Approved Minutes

2018
September 17
Agenda

July 9 Agenda Minutes
April 6
February 1

2017
November 6
September 11
July 10
April 24
February 2

2016
November 7
September 12
July 11
April 25
February 4

2015
November 9
September 14
July 13
April 27
February 20
February 5

2014
November 10
September 15
July 14
April 28
February 6

2013
November 18
September 9
July 8
April 29
February 7

2012
November 12
November 7
September 10
July 9
April 30
February 2

2011
November 14
September 12
April 25
February 3

2010
December 15
October 11
August 9
July 7
May 10
March 8
January 19

2009
December 14
November 16
October 19
September 21
July 13
July
June 15
May 14
April 28
March 30
February 20
January 23

2008
November 25
October 20
October 16
October 6
August 15
June 2
May 12
April 23
March 26
February 21
January 25

2007
December 14
November 12
October 4
September 20
September 6
May 17
February 8

2006
November 9
September 7
May 18,
February 9

Last modified September 18 2018 09:05 AM