Island Tree Audit Committee Mission

The Board has established an audit committee to provide independent assistance to the Board in the oversight of the following matters:

• Assist the Board in providing oversight of the internal and external audit functions, including the appointment of the internal and external auditors.

•  Oversee the competitive Request for Proposal Process (RFP) used to solicit quotations for the District’s annual external audit.

• Review the scope, plan and coordination of the external audit.

• Review corrective action plans and necessary improvement based on audit findings and recommendations received from external and internal auditors.

• Provide a communications link between the external and internal auditors and the Board.

Audit Committee Members Qualifications

·         Possess the requisite skills and experience necessary to understand technical and complex financial reporting issues.

·         Have the ability to communicate with, and offer advice and assistance to, public finance officers and auditors.

·         Be knowledgeable about internal controls, financial statements audits and management/operational audits.

Tentative Meeting Dates for 2010-11

November 3, 2010, 6:00 p.m., Karopczyc

January 12, 2011, 6:00 p.m., Karopczyc

March 9, 2011, 6:00 p.m., Karopczyc

June 8, 2011, 6:00 p.m., Karopczyc