Note:
This event has been cancelled. For questions or to find out about future training opportunities, please contact Jenny Keesey at (360) 816-1458 or jenny@nwppa.org.
Who Should Attend:
Utility leaders and policy makers (such as board members, commissioners, and appointed/elected officials) interested in the board audit committee function and structure.
Related Event:
Easy Tools to Implement Enterprise Risk Management, April 14, 2020
Course Overview:
An audit committee is a subcommittee of the board of directors that focuses on the integrity of the utility’s financial statements, engages the external auditor, reviews the external auditor’s report, and reviews the audited financial statements with management. At the discretion of the board, the audit committee may also have additional responsibilities.
While the Sarbanes-Oxley Act of 2002 required publicly traded companies to establish an audit committee, this has not been mandatory for privately owned, non-profit, or cooperative organizations. But increasingly, those boards are considering the benefits of establishing an audit committee to help with strong governance and financial oversight.
This course will cover the establishment of, and ongoing practices for, an audit committee. By the end of the course, participants will understand the role of an audit committee and how it can assist the management team and the board. Additionally, participants will leave the course having completed practical work for establishing an audit committee.
Course Objectives:
- Learn the role and responsibilities of the audit committee
- Learn audit committee composition
- Learn how it interacts with the board, management, and internal auditor
- Learn how it selects and oversees the external auditor
- Learn an audit committee's charter elements
- Learn about an audit committee's annual calendar, meeting agendas, and minutes
- Learn the important elements to look for in financial statements
- Learn about the external information sources
- Consider the composition of your audit committee
- Draft an outline for an audit committee charter or edit an existing charter
- Assemble a meeting calendar that identifies annual, quarterly, and ad hoc topics
- Review an audit committee checklist
Course Instructor:
Julie Ryan, Aether Advisors
Course Schedule:
Registration will begin at 8 a.m., and the class will run from 8:30 a.m. to 4:30 p.m. Lunch, as well as morning and afternoon breaks, will be provided.
Course Location and Hotel Information:
Doubletree by Hilton Missoula Edgewater
100 Madison Street
Missoula, MT 59802
(406) 728-3100
Room rate: $114 for a single/double
Please book your room as soon as possible, but no later than March 28, 2020, to secure this rate. Mention that you are coming in with the NWPPA group when booking your reservation. Or, book online with the following link: https://doubletree.hilton.com/en/dt/groups/personalized/R/RLMV-DT-NPA-20200413/index.jhtml?WT.mc_id=POG
Course Fees:
Utility Member Early Bird (ends 3/15/2020): $480
Utility Member Standard: $555
Associate Member Early Bird (ends 3/15/2020): $720
Associate Member Standard: $795
Non-member Early Bird (ends 3/15/2020): $1,440
Non-member Standard: $1,515
Cancellation Policy:
Cancellations are accepted, with full refund, if request is made at least 30 days prior to the course. Within 30 days, fees are as follows: 15-29 days, $100; 1-14 days or "no show," 100% of registration fee. When possible, please send a substitute instead of canceling; NWPPA does not charge a fee for substitutions.
Continuing Hours:
This course qualifies for six continuing hours. Certificates are issued upon full completion of the course.