SWSD 2013 Program Handbook November 2013 | Page 123

XVI.

Audits
A.
A professional audit shall be performed at the end of the Treasurer’s
term of office (every two years). The Chapter shall budget accordingly
for this expense.
B.
If the Treasurer’s position is vacated mid-term, an internal audit must
be performed by an Audit Committee (as appointed by the President),
to audit the Chapter’s financials prior to the installation of a
replacement Treasurer to fulfill the balance of the term.
C.
An internal Chapter Audit Committee should review the financial
statements at the conclusion of each Fiscal Year using standardized
forms for the Chapter Audit Report (defined below).
D.
An audit by a certified public accountant is highly recommended if the
Chapter collects $25,000 or more in per capita taxes or assessments.
Otherwise, the Chapter may file the Chapter audit report.
E.
The Chapter may conduct audits when needed. The Treasurer is
required to provide financial reports at all regularly scheduled
meetings. (See Section on Financial Reports above).
F.
Upon the removal or resignation of bonded officers, their name
shall be immediately removed from all bank accounts, and an audit
shall be conducted of their books. They have no more than 30 days to
transition their records to the newly elected or appointed officer.
G.
The Chapter Treasurer shall provide a backup copy on disc of
Quicken or QuickBooks files to Chapter President for her records
monthly.
H.
Audit Committee: the audit committee shall be appointed and
convened, as needed, by the Chapter President. The committee shall
be comprised of 3 Chapter Members in Good Standing. They should
use the Chapter Audit Report as a guide for the audit process. The
Audit Committee shall make a report on the status of the audit at
every Mothers’ Meeting until the process is completed and a final
report is submitted. See Exhibit B for a sample Chapter Audit Report,
form, but only the most recent version promulgated by the National
Organization shall be used.

XVII. Exceptions
The Treasurer must approve exceptions to these procedures in writing.

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