Audit Committee Guidelines

Committee members are appointed by the President because of their knowledge of the Auxiliary and general financial principles.

The fiscal year is October 1 to September 30.

The Finance Chairman and the bookkeeper will prepare the books for audit. All monies flow through the bookkeeper.

Committee Chairman will approve all bills and receipts pertaining to their committees and send them directly to the Auxiliary bookkeeper for payment or deposit. Please sign and date items sent to Auxiliary bookkeeper.

The audit does not include Auxiliary funds held in the Angus Foundation. Upon request the Foundation will provide a statement on these funds at the close of the Foundation audit.

AUDIT PROCEDURES:

The Audit Chairman will request from the bookkeeper monthly General Ledgers, cancelled checks, check registers, bank statements, deposit slips, invoices and receipts. These documents are to be provided at the close of the fiscal year so that the audit can be concluded before the Annual Meeting.

Bank statements will be reconciled, ledger entries verified against cancelled checks and deposits.

All checks including cancelled checks should be accounted for.

A report should be given to the President, the Executive Board and the membership at the Annual Meeting.