Audit Committee Charter for Nonprofits

The Committee shall be responsible for assisting the Board, the CEO or Executive Director  and Senior Management to safeguard the Organization’s assets. The Committee’s purpose is to ensure the reliability and the integrity of the Organization’s financial and operational information, statements and reporting processes. It also works to maintain the control environment, including internal controls that help to identify and mitigate risk for the Organization. The Committee takes the lead role in hiring and working with the Organization’s internal and external auditors, ensuring their qualifications and their independence, as well as the soundness of their processes. Finally, the Committee is charged with ensuring the Organization’s compliance with all legal and any regulatory requirements, as well as any ethical standards adopted by the Organization.