While the Sarbanes-Oxley law requires public traded companies to have an audit committee, I would suggest it is good practice if your chamber has one too!
To me it’s just as important as having that annual financial audit.
Yes, they can be expensive, but who would not want that stamp of approval for your board and membership at large.
For a previous blog post on annual financial audits go HERE.
We talk about transparency in our organizations and what better way to show that than having that annual financial audit and creating an audit committee that reports to your board of directors.
I would make the suggestion to use it as a tool to tell your story!
At the end of the day, we need to run financially sound chambers if we want to help our business members succeed.
For a great resource on audit committees go HERE.