AUDIT COMMITTEE: The Audit Committee shall be composed of three (3) to five (5)
42.4A The President shall consider the qualifications of those desiring to serve on the Audit Committee prior to appointing them. However, the past Treasurer shall not serve on the Audit Committee.
42.4A(i) If there is no one qualified to serve on the Audit Committee, the BOD shall initiate and outside audit for each year of the Treasurer’s term.
42.4A(ii) No BOD’s or immediate family members shall serve on the committee; however, the treasurer shall be present, as requested by the committee, for the purpose of answering committee questions.
42.4B The committee shall commence their duties upon the election of a Treasurer.
42.4C Their mission is to do a detailed review of the past year’s books and Treasurer’s reports. Upon completion of their audit the results shall be written and reported to the BOD. The BOD and Audit Committee shall then call for a special meeting of the membership for the purpose of reporting the audit results to the membership.
42.4D No less than two (2) weeks prior to the special meeting, the audit results and report shall be mailed to each club member.
42.4E Upon the review of the report at the special meeting, and the answering of the membership’s questions, the membership shall vote to accept or reject the report.
42.4E (i) Should the membership refuse to accept the report as satisfactory: the BOD shall require the assistance of an outside CPA to complete the audit.
42.4F However, upon the completion of the special meeting, the committee’s mission is complete for that year’s books.
42.4G At the start of the second year of the treasurer’s term the Audit Committee shall once again resume their duties of performing ad detailed review of the previous year’s books.
