Not-for-Profit Audit Committee: Best Practices

Hardcover: 256 pages
ISBN 0471697419
Jossey-Bass / Wiley
December 2005
(click below for the best currently available price for this important resource)

Since not-for-profits are not required to comply with Sarbanes-Oxley, they have the advantage of being able to select from alternative ways of functioning.

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. It covers:

An overview of the operating environment and financial reporting function
Guidelines for establishing an audit committee
The best uses of an internal audit function
How to implement an effective whistleblower program
The audit committee's relationship with the independent auditor
Creating an effective audit committee action plan

Not-for-Profit Audit Committee Best Practices helps audit committee members select from various best practices to tailor the functioning to their particular circumstances. 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

Please Note: Because of the rapidly changing nature of information in this field, this product may be updated with annual supplements or with future editions. If a supplement already exists, it will be sent to you free of charge with your purchase of the main volume. The publisher will send on approval any future supplements or new editions when they become available.

Warren Ruppel, CPA, began his career at KPMG Peat Marwick in 1979 and joined Deloitte & Touche in 1989 to specialize in audits of not-for-profit organizations and governments. He has since served as the chief financial officer of an international not-for-profit organization and as the assistant comptroller responsible for the accounting and financial reporting for one of the largest cities in the United States.

(information directly from the publisher)

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