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ABA Job Description

AUDIT COMMITTEE

BASIC FUNCTION

Audit the Treasurer's books and any other treasury records, verifying the items required by the bylaws. The incoming Chairman shall audit the Convention Treasurer's records following convention.

AUDITORS QUALIFICATIONS

   1. Be willing to become familiar with accounting procedures used by the Treasurer.

   2. Be willing to become familiar with ABA auditing procedures.

   3. Have interest and time to do a thorough audit of the Treasurer's books at

      Convention and the Convention Treasurer's books following convention.

   4. Must be able to attend convention to audit the Treasurer's books with the

      Committee.

CURRENT BYLAWS AFFECTING COMMITTEE ACTIONS

Article VI - Executive Committee

Article X - Duties of Officers and District Representatives -  A. President

Article X - Duties of Officers and District Representatives – F. Treasurer

Article XII – Duties of Appointees

Article XIII – Rotating Committee Appointments

Article XIV - Rotating Committees – D. - Audit Committee

Current Procedures

Audit Committee

   1. Audit the books of the ABA Treasurer

   2. At convention, receive the bank statements, canceled checks, paid invoices and statements, passbook saving books and/or savings account records, copies of ABA certificates of deposit, the checkbook, and the general ledger from the treasurer.

   3. The following records shall be available for reference:

         a. Membership and deposit records

         b. Deposit slips

         c. Copies of filed tax forms

         d. Auction income report

         e. Income activity reports

         f. Trial balance tapes

         g. Depreciation schedules

   4. Meet at convention with committee to perform the audit; invite the newly appointed member to the meeting.

   5. Prepare audit report and present the Audit Statement to the membership at convention’s second plenary meeting.

   6. Rotating committee members are to be consulted by the chairman before decisions are made.

   7. Incoming Audit Committee receives Convention Treasurer's Report within 120 days after convention. Audit shall be completed within 45 days after receipt of Convention Treasurer's Report.

   8. Send copies of the report to the President, Treasurer, Convention Chairman, Convention Treasurer, Convention Standing Committee Chairman, and members of the Audit Committee.

   9. Remit to Treasurer all expenses, with receipts, when the job is completed but no later than end of fiscal year, March 31st Committees whose budgets are large, remit expenses with receipts for payment periodically and send in any remaining expense no later than end of fiscal year, March 31st.

  10. Submit four copies of annual report to ABA Recording Secretary at the Executive Committee meeting held before the annual convention; if not attending convention, send four copies of annual report to the President three weeks before convention. (This report reflects the previous year convention treasurer’s audit and the ABA treasurer audit conducted during the previous year’s convention.)

  11. The Chairman shall attend Executive Committee meeting chaired by President on day before convention.