Audit Committee

Meeting Minutes

Mission Statement

The committee’s primary function is to assist the board in fulfilling their oversight responsibilities by reviewing the systems of internal controls that management and the Board of Trustees have established, as well as audited financial statements and the audit process. The committee shall have the power to conduct or authorize investigations into any matters within the committee’s scope of responsibilities. The committee shall retain independent counsel, auditors or others to assist in the conduct of the investigation upon funding approval by the Board of Trustees.

Primary Duties

To recommend to the board the retention or termination of an independent auditor
To negotiate the compensation of the independent auditor for approval by the board
To confer with the independent auditor to satisfy the committee members the financial affairs of the association are in order
To review and determine whether to accept the audit
To approve the performance of any non-audit services by the auditing firm
To recommend to the board procedures for the receipt, retention and treatment of complaints regarding accounting, internal accounting controls or auditing matters

Qualifications, Special Skills and Knowledge

Background in finance, economics or business
Familiarity with financial statements
Good follow-through
Good verbal communication skills
Previous board experience or service on CDA council/committee

Time Requirements

Committee Meetings: 4 one-day meetings per year

Composition and Terms of Office

The Audit Committee shall be composed of two trustee members and two at-large members. Trustee members are elected by the board and at-large members are appointed by the president. The term of office of the committee members shall be two years. The consecutive tenure of a committee member shall be limited to two full terms and one partial term.

Current Committee Members	Component
Terrence W. Jones, DDS, Chair	Sacramento District DS
Richard T. Kao, DDS, PhD	Santa Clara County DS
Terrence F. McCarthy, DDS	Orange County DS
Elizabeth A. Van Tassell, DDS	Redwood Empire DS
*Staff Support:* Bob Spinelli Chief Financial Officer 916.554.4904 bob.spinelli@cda.org