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Audit and Investments Committee
2010–2012 term
Chair
Lisa Tauxe, University of California San Diego, La Jolla, California
Members
Steve Burges, University of Washington, Seattle, Washington
Cindy Ebinger, University of Rochester, New York
Paul Fox, Texas A&M University, College Station, Texas
Richard Hooper, CUAHSI, Roslindale, Massachusetts
Hannah Padilla, KPMG, Washington, D.C.
Staff Liaison
Mark Hernick
The Audit and Investments Committee is responsible for oversight of 1) the investment of AGU's funds and 2) the annual independent audit of the Union.
Committee Charge
- Maintain a continuing review of the performance of AGU's investments and investment advisors and recommend changes in policies and/or management, as needed, to ensure that financial resources are sufficient to allow the Union to achieve its strategic goals;
- Participate in the annual financial audit, review the results, and make recommendations, as needed, to the Board of Directors to ensure that internal controls are maintained and financial management is adequate to protect and safeguard the Union's assets.
- Per AGU policy, periodically (every 3 to 5 years) initiate and conduct selection processes for the investment manager and the external auditor, with recommendations to the Board of Directors.
Work Plan for 2010–2012
- Monitor and evaluate performance of AGU's investments
- Ensure annual audits are successfully completed
- Being mindful of the financial uncertainties facing the AGU currently and in the future, carefully evaluate all the systems underlying the management of the Union's financial resources.
–July 2010