Tax-Exempt Organizations Alert: Audit Committees and Audit Committee Charters
This notice from the DC Bar Pro Bono Center and Orrick (issued in 2014 and updated in 2017) alerts nonprofit organizations to increased scrutiny from the IRS and advises the formation of an audit committee in response. Further, they suggest the adoption of an audit committee charter and the implementation of audits by independent auditors.
The rest of the document explains the nature of such an audit committee and provides a sample audit committee charter that can be customized for your organization’s use.
