Audit Review Committee

Are you interested in serving on the Audit Review Committee You can read more about the responsibilities of serving on this committee in the Audit Review Committee Member Position Description. Contact the staff liaison for more information!

Date Appointed: July 2024

CHAIR: Nancy Trivette

BOARD LIAISON: Katy Blatnick-Gagne
STAFF LIAISON: Shani Watkins
MEMBERS: A member from each ACTE Region

The committee is charged with overseeing the audit process of the Association and working with the outside auditor on the completion of the audit. The report, along with the auditor’s management letter, is to be included in the Board packet mailed prior to the Board of Directors meeting at VISION. The report of the committee is to be published in Techniques magazine.

The Committee should make recommendations to the Board of Directors and the Headquarters staff as to changes that will improve the financial management of the Association.

1. MISSION

To ensure the Association’s financial statements and disclosures are validated and to evaluate the Association’s accounting procedures and to oversee ACTE’s financial reporting, internal control and audit processes.

2. AUTHORITY

This is a committee appointed under procedures adopted pursuant with VIII.C of the Bylaws.

3. COMPOSITION, SELECTION & TERM

3.1 The committee shall be composed of the following voting members: one chair, one representative from each Region, two at-large members and the following non-voting members: the finance chair and the ACTE chief financial officer is the staff liaison.

3.2 The term of office is the association’s operating year. Members serve for a three-year period and may serve up to two terms per position. The term shall commence on July 1.

3.3 The Region vice presidents recommends committee representatives and are approved by the board of directors.

3.4 The chair of the committee shall be identified as representing the entire ACTE membership and not any particular division or region. The chair shall be selected from one of those who are serving or have served on the committee. A chair may be re-appointed to a second term if it is deemed to be in the best interests of the committee. The chair’s vote is counted in case of a tie. The chair is approved by the board of directors.

3.5 A vice chair shall be appointed by the members of the committee. In the event a chair cannot attend a committee meeting, the vice chair will preside in their absence. In the event a chair cannot complete their term, the vice chair will be appointed and must be approved by ACTE board of directors to serve for the balance of the term. Recommendations for the vice chair shall be made by the current chair of the committee. The vice chair must be an eligible member of the committee.

3.6 The chair of the committee serves as the Whistleblower Compliance Officer.

3.7 Members of this committee should have some accounting experience.

4. OBJECTIVES

4.1 Submit audited financial statements of the most recent fiscal year, prepared by an independent certified public accounting firm, to the board of directors no later than the second board meeting in the ensuing fiscal year.

4.2 Verify compliance with financial directives issued by the board of directors within the fiscal year under audit.

4.3 All ACTE accounts shall be audited annually by a certified public accountant or accounting firm approved by the board of directors. This approval shall be contingent upon solicited bids for auditing services for a period of no less than three (3) consecutive years.

4.4 Assure the submission of a Management Letter, prepared by an independent certified public accounting firm, to the board of directors no later than the second board meeting in the ensuing fiscal year.

Statement of Current Accounting.
Statement of Recommended Improvements with rationale and implementation guidelines.

4.5 Meet with the independent auditors at the time of the submission of the audit reports to obtain their assessment of the strengths and weaknesses of the Association’s financial staff, systems, internal controls and other factors considered pertinent to the integrity of the financial reports and the safety and soundness of the Association’s financial condition.

4.6 Review reports from management and the independent auditors with respect to controls required to ensure adequate financial reporting and require that the audited statements contain certifications by the executive director and chief financial officer that procedures and internal controls for financial reporting are adequate and that the statements are accurate and complete in all material respects.

4.7 Review the Whistleblower Policy to ensure the policy adequately enforces an anti-fraud program to address the following:

Create and maintain a culture of honesty and high ethics
Evaluate the risks of fraud and implementing the processes, procedures and controls to mitigate risk and reduce opportunities for fraud
Develop an appropriate oversight process
Create a means by which employees can confidentially and/or anonymously communicate concerns about potential violations of the policy or suspicious activity

5. MEETINGS

5.1 The committee will meet at least annually and more often as needed. A majority of the committee members present shall constitute a quorum. The staff liaison will keep a copy of the committee meeting minutes and forward a copy to the chair and board liaison. The committee chair may invite any director, officer, staff member, expert, or other advisor who isn’t a member of the committee to attend, but these individuals have no voting power.

5.2 The committee will review its charter at least annually and recommend any proposed changes to the board for review.

Representatives

Position	Name
Chair	Nancy Trivette
Region I	Frank Yesalavich
Region II	VACANT
Region III	Holly Camerano
Region IV	Kaydra Townsend
Region V	Mark Branger
Member-at-Large	Leon Burgess
Member-at-Large	Janet Goble
Board Liaison	Katy Blatnick-Gagne
Staff Liaison	Shani Watkins