Audit Committee Candidates + Nomination Form

Audit Committee Candidates + Nomination Form

The NANOG Board of Directors is currently seeking volunteers to serve on the Audit Committee.

It is desirable that committee members have some accounting background or knowledge of financial statements. There will be at least two volunteers selected to serve along with a member from the Board of Directors.

In order to help you make an informed decision, please note the following responsibilities and timeline that are associated with serving on the Audit Committee. If you are considering being a volunteer but have questions, please do not hesitate to contact us!

Normal Responsibilities:

  • Oversee the selection and performance of the outside audit firm. This process is usually not done more often than every 5 years and was recently completed in 2020.
  • Monitor the process of the annual audit by being informed of the audit timetable and receive periodic updates on the progress of the audit and if any issues are developing. When the final audit is complete, the audit committee reviews the deliverables, which are the financial statements, the board governance letter and the management letter. They work with management to correct any weaknesses or recommend that certain risks be mitigated to an acceptable level.

Expected Timelines (2022):

  • End of February to March - Receive draft of audited financial report for review.
  • Within 30 days of receipt of draft - The committee has 30 days to review the draft, settle any concerns with the auditors, if needed to approve the audit report. After 30 days, it will be pushed to the Board of Directors for approval.
  • Within 30 days of approval - Expect final Audited Financial Report and Management Letter from auditors. Review auditor’s recommendations and determine action to take if necessary.
  • Early August - Send RFPs if a change in outside auditor is desired.
  • Early October - Appoint the outside auditor.

NANOG Committee participation is important to the continued success of NANOG. If you are interested, please consider running for a position. If you know someone else that you believe would be interested, nominate them by completing the form below.

The nomination form will close at 9 pm EST on Friday, December 3, 2021. Questions should be sent by E-mail to [email protected]