• Effective Audit Committee Guide

If SDs or MWs are identified, the audit committee should ask the following:
 
  • Are these issues pervasive throughout the organization or limited to specific location(s), account(s) or types of transaction(s)?
  • Were any of these issues noted in previous years and, if so, what does this mean for establishment of an appropriate tone at the top and oversight of internal control?
  • What is management doing to remediate the issues? Is the scope and timing of this remediation adequate?
  • What additional controls, policies and/or procedures need to be implemented to ensure a more robust control environment?
  • Given the issues noted, are there other areas that need re-evaluation?

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Contacts

Andrea Espinola Wilson.
Andrea Wilson Managing Partner; Industry Specialty Services National Co-Leader, Nonprofit & Education Practice 703-752-2784
Adam Cole.
Adam Cole Managing Partner; Nonprofit & Education Advisory Practice National Co-Leader 212-885-8327
Laurie De Armond.
Laurie De Armond Assurance Office Managing Partner; Institute for Nonprofit Excellence Executive Director 703-336-1453
Marc Berger
Marc Berger National Director, Nonprofit Tax Services 703-336-1420
Lee Klumpp
Lee Klumpp National Professional Practice Partner – Nonprofit and Government Industries 703-336-1497
See all contacts

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