Audit Committee

Purpose
The Audit Committee monitors AACSB’s financial condition and approves the selection of an outside, independent auditor. The Committee oversees the annual audit of the financial records of AACSB and recommends to the Board and staff such changes in records, internal controls and procedures, as it deems necessary.

Structure
The Audit Committee is comprised of five members, including the Secretary-Treasurer of AACSB as an ex officio member. The remaining four positions are members of the Board appointed by the Vice Chair-Chair Elect (who becomes Chair on July 1). Committee members may serve for a maximum of three, one-year terms, which may run consecutively. Members include one from an Accreditation Council member school, one from an educational institution that is not a member of the Accreditation Council, one non-educational member of AACSB and one at-large member. One Committee member is designated as Committee Chair by the Vice Chair-Chair Elect (who becomes Chair on July 1).