The Committee shall:
- Select and recommend annually the public accountants for appointment as auditors for
the ensuing year and, in
consultation with the administration, the basis of their compensation;
- Approve the engagement letter, receive the independence letter and review the management letter and related
materials;
- Review privately with the external auditors their findings, any restrictions on their work, cooperation received,
and their recommendations;
- Receive privately the external auditors' opinion on various matters, including the quality and effectiveness of
financial and internal audit staff, significant accounting principles and practices, unresolved material differences
of opinion or disputes;
- Discuss with the external auditors the scope and purpose of the upcoming audit and the procedures to be
followed;
- Pre-approve all non-audit services greater than $25,000 to be provided by the external auditors to the University; and
- Annually review and assess the independence and performance of the external auditors.
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