Independent Audit Commission (IAC)
Rules and Regulations
INDEPENDRNT AUDIT COMMISION MISSION STATEMENT
The Job of independent audit commission stand for the purpose of developing and monitoring internal controls of the entire association & ensure accuracy of financial audit & requirement, Budget guideline if necessary, attendance in reporting of the ongoing and upcoming projects, coordinating and submitting an annual audit report to all members of the association, enable members to build trust & confidence in the association. Overall it serves the association by helping it accomplish its goal, and improving operations & internal controls.
MEMBERS OF THE INDEPENDENT AUDIT COMMISION
The members of the independent audit committee shall be elected for three-year terms by the DASNA members at the annual meeting. This independent audit commission shall compose of 5 members, Director of Audit Commission(1), Secretary(1), Internal Auditor(1), External Auditor(1), and Audit PR(1). In the event any member resigns from the independent audit commission during a term of office, the Director may recommend another currently active member to complete the term, and a majority vote of audit commission members present in a meeting will be required for approval.
DUTIES AND RESPONSIBILITIES
-Managing all the activities of all the positions in the commission
-Coordinate and submit an audit plan to the audit committee.
-Communicate with board members, personal and outside organizations, resolving issues conflicts, exchanging information’s, organizing meeting on teleconference with board members and other possible organization.
-Coordinating the preparation of written material (e.g reports, memos, letters, recommendation etc..) for the purpose of ensuring the accuracy of reported information
-Coordinate the preparation and implementation of policies and procedure of the association in cooperation with board members for the purpose of encouraging effective and efficient management controls.
setting values, standards, strategy, and monitoring the commission performance
-Promoting the principles of integrity, probity and accountability so as to enhance the Commission's reputation for robust independence, fairness, and transparency within the association
-Assisting the Director of the audit commission in any activities as well as the preparation of any given reports
-keep records of the acts and proceeding of all audit meeting as well as joint meeting with board members
-check all notices are duly given in accordance with the provisions of these bylaws or as required by law
-Maintain document all the meeting minutes and put in follow up actions
-Shall affix the seal to any lawfully executed instrument requiring the audit commission board members from time to time
-In the absence of the Director of the audit commission, the Secretary shall preside over meetings.
-Formulate standard audit track system for the purpose of helping all states to raise funds during events, like clear of P&L statement style, or simple of revenue and expenses statement style
-Plan and conduct audits on a variety cash based system like , social gathering events in cooperation with event organizers , by providing technical assistance to help them for using the outlined audit track system.
-Coordinate, and monitor the processing of financial information of the cash based social gathering evens with state level organizers for the purpose of ensuring of accuracy of information coming out to all association members.
-Communicate with state level event organizers in a friendly and professionally manner to have the entire supported document to analyzing the cash flow system for the purpose of determining the scope of audit.
-Provide the final reports to the chief auditor after reviewing and research of possible discrepancies during the course of the entire auditing.
-Coordinate and follow up with state local organizers of applying the cash flow to the on going project.
-Coordinate of getting information about the compliance of the project from the home based association with clearly having supported documentations, like (pictures, video, and written materials.) and report to all members as much as possible for the purpose of encouraging members.
-Provide an independent opinion report to the audit commission by monitoring and evaluating the effectiveness & efficiency of the ongoing project.
-Develop two-way communication with home based association & community continuously & update the information regarding the activities & the financial situation of the project.
-Develop beneficial relationship with important publics, universities, schools, churches, and other organization for the purpose of seeking potential funding to the association.
-Investigate ways to increase the value of our association members recruiting strategies and work with the board members to promote with an effective recruiting program, which require to develop specific strategies to facilitate new members recruiting program.
-Develop any possible relationship with other similar fundraiser communities and build strong network with them.
-Coordinate to release media coverage of any fund raising event like: news paper, radio, and different websites by having effective communication with board members.
-Perform investigative Research or exploratory analysis of other means of fund sources to help the project and then develop a sound related proposal by attaching supportive documents and shoot those proposals to the potential help provider organization.
-Over all create new ideas to find any possible ways of getting funds to help the ongoing project.
A teleconference meeting of the audit commission members is to be held once a month. A special Meeting may be called if deemed necessary and approved by two-third of the independent audit commission members. Every meeting must be announced at least one week before the meeting is held by e-mail and/or phone calls. Also, a general meeting will be held at the annual fund-raising places.
AMENDEMENT OF BYLAWS
The independent audit commission bylaws shall be adopted by a two-third of the committee members. It is created and implemented on August 2009.