The Audit Committee (KasCo) is the treasurer’s oversight body.
But what does that entail? What do they actually do?
- Financial Audit: The finances are periodically audited for accuracy, including reviewing expense claims, receipts, and direct debits.
The KasCo also audits the annual and semi-annual financial report. - Financial Policy: They examine the policies implemented, such as adherence to the budget and financial management.
- Advisory Services: In addition to advising the treasurer, the KasCo also reports to the General Meeting.
This committee periodically audits the finances and monitors the treasurer’s work.
This includes reviewing expense claims and receipts, and providing accounting advice.
Why do we have an Audit Committee?
- Trust: By auditing the documents, they maintain the members’ trust in the board, among other things.
- Legal Requirement: An Audit Committee is legally required.
- Independence: Members may not sit on the board in order to be able to judge impartially.