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From The AICPA Audit Committee Toolkit.
Copyright © 2005 by the American Institute of Certified Public Accountants,
Inc., New York, New York.
| Purpose of this Tool: Audit committees can take advantage of the Internet and find a wealth of resources to assist them in discharging their responsibilities. This Tool provides an overview of organizations and Web sites that contain topical resources for audit committee members to investigate.
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Below is a sampling of organizations and Web sites that can assist audit committee
members in learning more about their roles, responsibilities, and functions.
Some of the organizations listed require membership to access the information.
Many public accounting firms and state CPA societies provide information on
these subjects as well. As always, monitor your state’s nonprofit laws
for audit committee requirements. For example, California passed the Nonprofit
Integrity Act of 2004 and requires an audit committee separate from the finance
committee.
Alliance for Nonprofit Governance www.angonline.org
The Alliance for Nonprofit Governance (ANG) is a coalition of nonprofit technical
assistance providers, nonprofit umbrella organizations, funders, public regulators,
professional services providers, academics, and others that share an interest
in promoting good governance for nonprofit organizations.
American Institute of Certified Public Accountants www.aicpa.org
The American Institute of Certified Public Accountants (AICPA) is the national
professional association for all certified public accountants. This includes
CPAs working as independent auditors, accountants, or consultants in public
practice, business and industry (chief financial officers, controllers, internal
auditors, and others), government, not-for-profit organizations, and the
academic community.
The AICPA has developed this Audit Committee Toolkit to aid audit committee
members in performing their functions. In addition, the AICPA produces publications
on accounting and auditing, financial reporting, tax, technology, and many
other relevant topics. Some additional online resources useful to audit committees
include:
American Society of Association Executives www.asaenet.org
The American Society of Association Executives (ASAE) is a national organization
serving the needs of association professionals through its education and
certification programs, publications, research and information, public policy
and public relations activities, and member services.
Association of Audit Committee Members, Inc. www.aacmi.org
The Association of Audit Committee Members (AACMI) is a not-for-profit association
of audit committee members dedicated to strengthening the audit committee
by developing national best practices. They are devoted exclusively to improving
audit committee oversight. Association of Certified Fraud Examiners www.cfenet.com
The Association of Certified Fraud Examiners (ACFE) is a global professional
organization is dedicated to fighting fraud and white-collar crime. With
chapters around the globe, the Association is networked to respond to the
needs of anti-fraud professionals everywhere. They offer guidance on fraud
prevention, detection, and investigation, as well as internal controls.
Association of Community College Trustees www.acct.org
The Association of Community College Trustees (ACCT) is a not-for-profit educational
organization of governing boards, representing more than 6,500 elected and
appointed trustees who govern over 1,200 community, technical, and junior
colleges in the United States, Canada, and England.
Association of Governing Boards of Colleges and Universities www.agb.org
The Association of Governing Boards of Universities and Colleges (AGB) is a
national organization providing university and college presidents, board
chairs and individual trustees of both public and private institutions with
the resources they need to enhance their effectiveness.
BoardSource www.boardsource.org
BoardSource is a resource for practical information, tools and best practices,
training, and leadership development for board members of not-for-profit
organizations worldwide. Through their programs and services, BoardSource
enables organizations to fulfill their missions by helping build strong and
effective nonprofit boards.
Committee of Sponsoring Organizations of the Treadway Commission www.coso.org
The Committee of Sponsoring Organizations of the Treadway Commission (COSO)
is a voluntary private-sector organization dedicated to improving the quality
of financial reporting through business ethics, effective internal controls,
and corporate governance. Originally formed in 1985 to sponsor the National
Commission on Fraudulent Financial Reporting, COSO has released numerous
influential publications including Internal Control—Integrated Framework.
Conference Board www.conference-board.com
The Conference Board is a global, independent membership organization that
creates and disseminates knowledge about management and the marketplace to
help businesses strengthen their performance and better serve society. They
conduct research, convene conferences, make forecasts, assess trends, publish
information and analysis, and bring executives together to learn from one
another.
Council on Foundations www.cof.org
The Council on Foundations (COF) is a membership organization of more than
2,000 grantmaking foundations and giving programs worldwide. They provide
leadership expertise, legal services, and networking opportunities.
Ethics Officers Association www.eoa.org
The Ethics Officers Association (EOA) is the professional association exclusively
for managers of ethics, compliance and business conduct programs. The EOA
provides ethics officers with training and a variety of conferences and meetings
for exchanging best practices in a frank, candid manner.
Ethics Resources Center www.ethics.org
The Ethics Resource Center (ERC) is a nonprofit, nonpartisan educational organization
whose vision is a world where individuals and organizations act with integrity.
Their mission is to strengthen ethical leadership worldwide by providing
leading-edge expertise and services through research, education and partnerships.
Especially useful are their resources on business and organizational ethics.
Financial Executives International www.fei.org
The Financial Executives Institute (FEI) is the preeminent professional association
for senior level financial executives including Chief Financial Officers,
VPs of Finance, Controllers, Treasurers, and Tax Executives. They provide
peer networking opportunities, emerging issues alerts, personal and professional
development and advocacy services.
Harvard Business School’s Corporate Governance, Leadership & Values www.cglv.hbs.edu
Harvard Business School’s Corporate Governance, Leadership & Values
Web site is a comprehensive overview of research, educational programs, and
other activities at Harvard Business School aimed at providing new frameworks
for thought and practice in the interrelated areas of corporate governance,
leadership, and values. It includes links to the ongoing workshop series; background
papers; research programs, such the Corporate Governance Initiative; executive
education programs; viewpoints on key issues published in the national press;
faculty comments in the media; and an on-line forum for exchanging views on
emerging issues.
Independent Sector www.independentsector.org
The Independent Sector (IS) is committed to strengthening, empowering, and
partnering with nonprofit and philanthropic organizations in their work on
behalf of the public good.
Institute of Internal Auditors www.theiia.org
The Institute of Internal Auditors (IIA) is an international organization
that meets the needs of a worldwide body of internal auditors. IIA focuses
on issues
in internal auditing, governance and internal control, IT audit, education,
and security worldwide. The Institute provides internal audit practitioners,
executive management, boards of directors and audit committees with standards,
guidance, best practices, training, research, and technological guidance
for the profession.
Internal Revenue Service www.irs.ustreas.gov/charities/index.html
The Internal Revenue Service (IRS) has tax information for charities and other
not-for-profit organizations.
IT Governance Institute www.itgi.org
Established by the Information Systems Audit and Control Association and Foundation
(ISACA) in 1998, the IT Governance Institute (ITGI) exists to assist enterprise
leaders in understanding and guiding the role of IT in their organizations.
ITGI helps senior executives to ensure that IT goals align with those of
the business, deliver value, and perform efficiently, while IT resources
are properly allocated and its risks mitigated. Through original research,
symposia and electronic resources, ITGI helps ensure that boards and executive
management have the tools and information they effectively manage the IT
function.
National Association of College and University Business Officers www.nacubo.org
The National Association of College and University Business Officers (NACUBO)
represents chief administrative and financial officers through a collaboration
of knowledge and professional development, advocacy, and community. Their
vision is to define excellence in higher education business and financial
management.
National Association of Corporate Directors www.nacdonline.org
Founded in 1977, the National Association of Corporate Directors (NACD) is
an educational, publishing and consulting organization in board leadership
and the only membership association for boards, directors, director-candidates
and board advisors. The NACD promotes high professional board standards,
creates forums for peer interaction, enhances director effectiveness, asserts
the policy interests of directors, conducts research, and educates boards
and directors concerning traditional and cutting-edge issues.
National Council of Nonprofit Associations www.ncna.org
The National Council of Nonprofit Associations (NCNA) seeks to guarantee that
all not-for-profits have access to knowledge and resources through the national
network of state associations and that the not-for-profit sector retains
a vibrant and strong voice at the national and state level that speaks to
its issues and those of their constituencies.
Nonprofit Coordinating Committee of New York, Inc. www.npccny.org
The Nonprofit Coordinating Committee of New York, Inc. (NPCC) was established
to help not-for-profits meet common challenges and problems, to serve as
a meeting ground and to strengthen the nonprofit sector as a whole.
Nonprofit Financial Center www.nfconline.org
The Nonprofit Financial Center (NFC) is a not-for-profit organization dedicated
to helping nonprofits grow and prosper through practical financial management.
Public Company Accounting Oversight Board www.pcaobus.org
The Public Company Accounting Oversight Board (PCAOB) is a private-sector,
not-for-profit corporation, created by the Sarbanes-Oxley Act of 2002, to
oversee the auditors of public companies in order to protect the interests
of investors and further the public interest in the preparation of informative,
fair, and independent audit reports.
The Sarbanes-Oxley Act of 2002 www.aicpa.org/info/sarbanes_oxley_summary.htm
President Bush signed the Sarbanes-Oxley Act, which regulates the accounting
profession and public companies, on July 30, 2002. Although the provisions
of Section 301 for a public company audit committee do not apply to the not-for-profit
sector, they can be viewed as a best practice.
From The
AICPA Audit Committee Toolkit. Copyright ©
2005 by the American Institute of Certified Public Accountants, Inc., New
York, New York.
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