Bridging the Gap: Best Practices for Audit Committees

Session Time: 
Monday, May 18, 2020 - 1:30pm to 2:20pm
Field of Study: 
Auditing – Governmental

An audit committee provides an independent review and oversight of a government's financial reporting processes, internal controls, and independent auditors. GFOA's best practice guidance recommends that all governments establish an audit committee.   This session will be based on GFOA's best practice statement and will provide answers to frequently asked questions on audit committees including: What should the committee do? Who should serve on the  committee? How much financial knowledge is required to serve? How often should the committee meet? What is the proper level of funding for an audit committee?