The audit committee of the Mt. Hood Community College (MHCC) District Board of Education is established as an advisory committee to the Board of Education to provide proactive oversight for the financial and compliance reporting and risk management processes and disclosure, assuring transparency, integrity and reliability.

The audit committee is responsible for providing assurance to the Board of Education that the College has the appropriate culture, personnel, policies, systems and controls in place to safeguard entity assets and to accurately report financial information.

The audit committee will be comprised of two Board of Education members, who will be appointed by the Board Chair,up to six community members, the president and the vice president of administrative services.

The audit committee will meet no less than two times per year, including meeting with the external auditors prior to the start of the annual audit. The audit committee will consider and review with the administration and the independent auditor the following:

• Significant findings during the year, including the status of the audit recommendations from the prior year.
• Any difficulties encountered in the course of audit work, including any restrictions of the scope of activities or access to required information.
• Any changes required in the planned scope of the audit plan.

The audit committee will report periodically to the Board of Education on significant results of the foregoing activities.

END OF POLICY