July 04, 2008
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Audit Committee |
The Audit Committee is an advisory committee of the IFAC Board whose primary objective is to oversee the preparation and audit of IFAC's annual financial statements. The Audit Committee typically meets five to six times per year either in person or by conference call.
Activities
IFAC's financial year follows the calendar year. In overseeing the annual preparation and audit of IFAC's financial statements, the Audit Committee undertakes the following activities:
- Recommending the appointment of an independent auditor to the IFAC Board, which in turn makes a recommendation to the IFAC Council;
- Agreeing the audit timetable with management and the appointed auditors;
- Reviewing the work of the independent auditor;
- Reviewing the financial statements and recommending their adoption to the Board; and
- Advising the Board on IFAC's governance and financial control arrangements.
In addition, the Audit Committee considers and advises the Board on requests from member bodies regarding financial contribution hardships.
Membership
Members of the Audit Committee are appointed by the IFAC Board. Current members:
- Bernadette McGrory-Farrell (Chair), Ireland
- Ingrid Doerga, Netherlands
- Roberto Resa, Mexico