Not-for-Profit Audit Committee Best Practices (PDF)

How can not-for-profit organizations be sure they play by the rules
when the rules aren't clear?

Due to recent, very public accounting scandals and the resulting
Sarbanes-Oxley Act and other regulations, public companies have
strict guidance on financial governance and accounting, including
the functions and responsibilities of audit committee members.
Though not-for-profit organizations are subject to increased
scrutiny, there has been no detailed guidance for their audit
committees. This book fills the void and helps not-for-profit
organizations answer these questions:

* In today's skeptical environment, how can responsible financial
governance and reporting reassure wary donors and supporters, and
perhaps give the organization a competitive advantage?

* How should the audit committee be structured?

* Which Sarbanes-Oxley requirements (if any) should the audit
committee adopt?

* Which best practices best fit the organization's structure and
financial reporting needs?

Complete with checklists, sample questions, and an index for quick
reference, Not-for-Profit Audit Committee Best Practices
covers:

* Different types and unique characteristics of not-for-profit
organizations

* The audit committee's role in preventing and detecting
fraud

* Important internal controls and the internal audit function

* The relationship of the audit committee and the independent
auditor

This heads-up, hands-on guide helps audit committee members select
and structure appropriate best practices and function in the most
effective manner for their unique not-for-profit organizations.
It's also a valuable reference for board members, managers,
independent auditors, and advisors of not-for-profit organizations.