The purpose of the audit committee is to provide a structured, systematic review of the district’s governance, risk management, and internal control practices. The committee assists the Governing Board and management by providing advice and guidance on the adequacy of the organization’s initiatives for:

• Values and ethics
• Governance structure
• Risk management
• Internal control framework
• Oversight of the internal audit activity, external auditors, and other providers of assurance
• Financial statements and public accountability reporting

In broad terms, the audit committee reviews each of the items noted above and provides the Governing Board with independent advice and guidance regarding the adequacy and effectiveness of administration's practices and potential improvements to those practices. Additionally, the committee plays an important role related to establishing the annual audit plan.

Pursuant to Board Policy DIE, the Audit Committee is responsible for the following:

1. Reviewing audit reports before the final audit report is issued;
2. Transmitting audit reports to the Governing Board;
3. Monitoring follow up on reporting findings to assure corrective action is taken;
4. Reporting to the Governing Board on problem areas as deemed appropriate;
5. Providing oversight of the external audit; and
6. Evaluating the findings and recommendations of the peer review as required by applicable government auditing standards.

Committee members should possess sufficient knowledge in one or more of the following areas: audit, finance, specific industry knowledge, IT, law, governance, and/or risk and control.

Committee members must also be able to meet the following commitments:

• Actively participate in quarterly Audit Committee meetings throughout the one, two, or three-year term approved;
• Be willing to attend more than one meeting per quarter when the committee chair or committee deems necessary;
• Review committee agendas prior to meeting in preparation of the topics;
• Complete a conflict-of-interest form;
• Be a resident of the Scottsdale Unified School District; and
• Be willing to participate as an unpaid volunteer