ADMIN 140 - Audits Policy
Purpose
To delineate the requirements for annual independent audits of any and all CWI records and activities to ensure appropriate oversight and compliance with all legal and regulatory requirements and CWI policies.
Scope
This policy applies to independent audits of all CWI records and activities
Definition
Audit: A systematic and independent examination of books, accounts, documents and vouchers of an organization to ascertain how fair and accurate the financial statements are presented
Policy
The President shall ensure CWI undergoes an annual external audit of all funds, fiscal records, and accounts by recommending a firm of certified public accountants with whom the Board of Trustees will contract. The purpose of such an audit is to ensure that CWI is in compliance with all applicable laws and CWI policies.
Guidelines
- The authority for selection of the independent auditor shall rest with the Board of Trustees who shall have responsibility for the following:
- Developing and adopting the scope of services for the independent audit;
- Maintaining public confidence in the procedures and processes used by CWI in all of its financial transactions and reporting;
- Establishing sufficiently scheduled and unscheduled testing of transactions to provide a reasonable and professionally prudent person a basis for determining that CWI’s financial transactions are fully and accurately reported and reflected in all financial statements and reports to the Board and other monitoring and oversight agencies.
- This policy shall apply to all financial transactions including but not limited to:
- investment of funds;
- cash receipting and disbursement;
- tax reporting;
- general ledger accounting;
- grant accounting;
- purchasing transactions
- employee expense reporting; and
- all other financial transactions executed by CWI
Administration, Business, & Finance Policies
- ADMIN 000 - Contract Administration and Management Policy
- ADMIN 010 - Cash Handling Policy
- ADMIN 020 - Business Ethics
- ADMIN 030 - Post-Issuance Tax Exempt Bond Compliance Policy
- ADMIN 040 - Sponsored Programs
- ADMIN 050 - Accounts Payable
- ADMIN 060 - Travel and Meeting Policy
- ADMIN 070 - Food And Entertainment
- ADMIN 080 - Gifts, Awards, And Incentives Policy
- ADMIN 090 - Investments Policy
- ADMIN 100 - Procurement Policy
- ADMIN 110 - Fixed Asset Acquisition & Management
- ADMIN 120 - Debt Management Policy
- ADMIN 130 - Change Funds/Petty Cash Funds Policy
- ADMIN 140 - Audits Policy
- ADMIN 150 - Authorized Signature Policy
- ADMIN 160 - Independent Contractors Policy
- ADMIN 170 - Purchasing Card Policy
- ADMIN 180 - Uniforms and Logo Apparel
- ADMIN 190 - Procurement of Public Works Construction