Audit Committee

What is the main role of an audit committee in a nonprofit?

The audit committee oversees financial reporting, internal controls, and the audit process to ensure transparency and regulatory compliance.

Who should serve on a nonprofit audit committee?

Ideally, financially literate board members or individuals with expertise in accounting, finance, or compliance should serve on the audit committee.

How does an audit committee differ from a finance committee?

The audit committee focuses on oversight of audits and compliance, while the finance committee manages budgeting and financial planning.

Does every nonprofit need an audit committee?

Not all nonprofits are required to have an audit committee, but having one is considered best practice for strong governance and accountability.

How can Aplos help audit committees?

Aplos provides accurate, audit-ready reports and real-time financial data, making it easier for audit committees to fulfill their oversight responsibilities.