The Audit Committee shall conduct an audit at least twice a year, not later than February 15 and August 15, of the Regional financial records, books and transactions, and shall make a written report of the audit, signed by all members of the Audit Committee present at the audit. Copies of the Audit Report shall be distributed to the Region Director, Region Director-Elect, Treasurer, Secretary and to the Past Region Director and Past Treasurer within sixty days after the date of each Audit Report. The Audit Committee Chair shall make copies of the Audit Committee Reports available to the BoG members upon request.
The Auditor is appointed for a two year term by the incoming Director. The Auditor shall take office on January 1st. Reappointment of the incumbent Auditor is permissible.
The Chair of the Audit Committee shall be appointed by the Region Director in accordance with Section 22.214.171.124 of the R1 Bylaws.
The Audit Committee members shall be selected and appointed by the Region Director with the assistance and recommendations of the Audit Committee Chair, stressing Region 1 Bylaws Page 11 of 15 – Approved by MGA – 22 November 2014 qualifications in fiscal and financial matters. The Region Director, Treasurer, and the Past Region Director and Past Treasurer shall be ineligible to serve on the Audit Committee.