Members of the Audit Committee:
PURPOSE
The Audit Committee (“Audit Committee”) of the Aircraft Owners and Pilots Association (“AOPA” includes all related entities) is appointed by the Board to lead the detailed oversight activities of the Audit Committee required by the Board in meeting its fiduciary responsibilities. Responsibilities include overseeing: (1) the integrity of the financial management processes, financial statements, internal & external reporting, and the establishment and use of appropriate accounting policies, procedures and internal controls; (2) full and appropriate compliance by AOPA entities with legal and regulatory requirements; (3) the identification, assessment, and management of risks and on-going controls plus appropriate risk management information and communication across AOPA; and (4) the independence and performance of the independent accountants of AOPA; (5) appoint and replace the independent accountant.
It is the duty of the Audit Committee to “set the tone at the top” on the basic values and overseeing the implementation of integrity, strong financial reporting and controls, appropriate transparency, legal compliance, risk identification / assessment / mitigation, and strong financial & risk management processes are maintained.
