The Audit Committee plays a vital role in maintaining the financial integrity and accountability of AGA. By overseeing external audits, internal controls, compliance, and risk management processes, the committee helps ensure transparency, ethical operations, and responsible governance throughout the organization.

What the Audit Committee Does

The Audit Committee supports the National Governing Board (NGB) and National Executive Committee (NEC) by providing independent oversight of AGA’s:

  • Financial reporting and audit processes
  • Internal controls and risk management
  • Compliance with laws, regulations, and ethical standards
  • Whistleblower and special investigation protocols

In coordination with AGA’s executive leadership and external auditors, the committee ensures that AGA’s operations reflect best practices in nonprofit governance and financial stewardship.

Key Responsibilities

The Audit Committee’s core responsibilities include:

  • External Financial Reporting
    Reviewing annual financial statements, audit results, IRS Form 990, and other financial disclosures
  • Internal Controls & Risk Management
    Evaluating the effectiveness of internal controls, including IT systems and governance processes
  • External Audit Oversight
    Recommending the appointment of independent auditors, reviewing their performance, and ensuring their independence
  • Compliance Monitoring
    Overseeing AGA’s processes for regulatory compliance, ethical conduct, and response to legal or audit findings
  • Special Investigations
    Collaborating with the Professional Ethics Board on matters such as whistleblower reports or suspected fraud
  • Reporting and Transparency
    Providing regular updates to the NGB and maintaining clear communication between the board and auditors

Who Serves on the Audit Committee

The Audit Committee includes five appointed members, with at least:

  • Three holding a CGFM, CPA, or CIA designation
  • Three being current members of AGA

Members are appointed by the National President in consultation with the National President-Elect and ratified by the National Governing Board. Members serve three-year staggered terms and may be reappointed once.

The committee elects its own Chair, Vice Chair, and Secretary, with the remaining two members serving as general committee members.

How the Committee Operates

The Audit Committee meets at least twice annually, with additional meetings held as needed. Meetings may include executive sessions or private discussions with auditors or legal counsel. Members are expected to review relevant materials in advance and attend all meetings in person or via teleconference.

The committee also evaluates its performance regularly and updates its charter annually for NGB approval.

Why It Matters

As a professional association committed to accountability, ethics, and public trust, AGA depends on strong financial oversight. The Audit Committee ensures that AGA upholds high standards of transparency, manages risk responsibly, and complies with legal and ethical expectations—reinforcing member confidence and organizational credibility.

Interested in Supporting Financial Oversight and Accountability?

If you have experience in auditing, financial reporting, or risk management and are committed to nonprofit governance excellence, consider serving on AGA’s Audit Committee.

Committee

More Groups