Toolkit released for audit committees of not-for-profits.

• Position: The Audit Committee Toolkit: Not-for-Profit Organizations - American Institute of Certified Public Accountants - Brief article

Audit committees of not-for-profits can now find a comprehensive set of best practices to help them discharge their responsibilities appropriately. The Audit Committee Toolkit: Not-for-Profit Organizations was created by a task force of volunteer members employed in NPOs or providing service to NPOs.

The toolkit is available for free download from the AICPA Audit Committee Effectiveness Center, found at www.aicpa.org/ Audcommetr/toolkitsnpo/homepage.htm. A print version will be available for a fee in the fall; watch for announcements.

A wealth of governance topics are covered by the toolkit, ranging from developing an audit committee charter and hiring the chief audit executive, to conducting an executive session and evaluating independent auditors. This new toolkit...