Audit Committe Charter - NAEPC

CHARTER OF THE AUDIT COMMITTEE OF THE NATIONAL ASSOCIATION OF ESTATE PLANNERS AND COUNCILS A Non-Profit Organization The audit committee ("the committee") of the board of directors ("the board") of the National Association of Estate Planners and Councils, a non-profit organization ("the organization"), will have the oversight responsibility, authority, and specific duties as described below. Composition The committee will be comprised of three or more directors, as determined by the board. Responsibility The committee is part of the board. Its primary function is to assist the board in fulfilling its oversight responsibilities with respect to (1) the review or audit of the organization's books and records and (2) the system of internal controls that the organization has established. The committee should have a clear understanding with the outside auditors at such time, if ever, as outside auditors are employed, that they must maintain an open and transparent relationship with the committee, and that the ultimate accountability of the outside auditors is to the board and committee. The committee will make regular progress reports to the board. Authority Subject to the prior approval of the board, the committee is granted the authority to investigate any matter or activity involving financial accounting and financial reporting, as well as the organization's internal controls. In that regard, the committee will have access to the organization's ...