Not-for-Profit Audit Committee Best Practices
Chapter One
Background and
Regulatory Issues
The purpose of this chapter is to set the stage for understanding the various considerations
to make when establishing best practices for a not-for-profit organization's
audit committee. In other words, to determine those characteristics of these
organizations that make them so distinctive that simply mimicking the requirements
of audit committees established by other types of organizations (such as the
Sarbanes-Oxley Act of 2002, which applies to publicly traded companies) would
fail to result in what could be considered best practices for a not-for-profit organization's
audit committee.
Specifically, this chapter will address the following:
The types of not-for-profit organizations covered by this book
The unique characteristics of not-for-profit organizations
The financial reporting environment for ... read full excerpt from Not-for-Profit Audit Committee Best Practices ebook
