Audit

American Legion Auxiliary
Department of Virginia
Audit Program
                                 2020-2021                                  
“Audit with a “Bit of Honey”

An audit helps to instill confidence in the membership that your Unit is solvent. It is an objective examination and evaluation of the financial statements of an organization.

It is important that Units and Districts have an Audit committee. The Audit committee is tasked with the responsibility of oversight of the policies and procedures. The Audit committee will focus on risk management and compliance of the established policies and procedures. Ensuring sound financial practices is the basis of adhering to the rules and regulations of a business.

Functions of the Audit Committee:
▪An audit committee member should have no personal or professional involvement with the area being audited and should remain impartial.
▪ The Committee should be elected annually
▪ All members of the committee should have general financial knowledge
▪ The committee should ensure confidence about possible wrongdoing (Whistle blowing and fraud) review the procedures for detecting and preventing fraud.
▪ The Chairman of the committee shall report routinely (i.e.-quarterly, etc.) to the membership on its findings and make appropriate recommendations.

AUDIT COMMITTEE
Chair: Sarah Elam, PDP
Email Address: ela7170@msn.com

Download: 2020-2021 Audit Summary Sheet