Audit and Risk Committee Member at Unitarian Universalist Association | Torre

Audit and Risk Committee Member

You'll safeguard financial integrity and strengthen governance for a vital liberal religious movement.
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Part-time

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Emma of Torre.ai
3 months ago

Requirements and responsibilities


NOTE: A position with the Audit & Risk Committee is strictly VOLUNTEER, and is NOT a paid position.Purpose: The Audit and Risk Committee assists the Board of Trustees in fulfilling its oversight responsibilities for (1) the financial reporting process and system of internal control, (2) the external auditors’ qualifications, independence, and performance, (3) the adequacy and effectiveness of the process for monitoring compliance with laws, regulations, and the code of ethics, and (4) the adequacy and effectiveness of risk management practices.Skills needed:Financial literacy is requiredExperience in audit committee experienceFinanceEnterprise risk managementTechnology/ITInvestment/endowment managementPublishingHealth plansStrategic planningDiversity, equity and inclusionHuman resourcesLawNot-for-profit industry knowledgeLeadership rolesMarketing/public relationsAccountingAuditingLength of term: 2 years (with a max. of 4 consecutive terms)Meetings: 3 meetings per year, 4 hours eachAdditional important info: There are pre-read materials for most meetings including audit firm communications, draft financial statements, and information from management about various risk management areas. It is expected that committee members will have reviewed the materials in advance and be prepared to discuss them at the meeting.Under the charter: The following are key expectations for committee members:An understanding of generally accepted accounting principles and financial statementsThe ability to assess the general application of such principles in connection with the accounting for estimates, accruals and reservesExperience preparing, auditing, analyzing or evaluating financial statements that present a breadth and level of complexity of accounting issues that are generally comparable to the Association'sAn understanding of internal controls and procedures for financial reportingAn understanding of audit committee functionsApply To Position: Apply To Position
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