The Oakland Community College Board of Trustees is seeking a community volunteer to serve on the Board’s Audit Committee. OCC is Michigan’s largest community college and the 25th largest in the nation. OCC’s budget for fiscal year 2014-2015 is approximately $157 million.
The Audit Committee is composed of three OCC Trustees and four community members. Duties include:
- Developing and periodically reviewing audit-related policies for approval by the Board of Trustees;
- Reviewing the audit plans for the coming year and discusses with the external audit firm;
- Meeting with the audit firm to review the audited financial statements and the audit report on federal awards received as required by federal law or regulation, including OMB Circular A-133;
- Addressing any issues identified in the required communications and management letter;
- Reviewing the performance of the auditors annually, ensuring continued independence;
- Reviewing with management and the external auditor the internal control process and the risk management and mitigation process;
- Reporting the results of the audit and providing recommendations based on the findings to the Board of Trustees for approval;
- Reviewing the College’s whistleblower policies and procedures for appropriateness and effectiveness;
Community Audit Committee candidates must reside or work in Oakland County and submit an application form. Upon appointment by the OCC Board, community volunteers will serve a two-year term.
“Serving on this committee is an excellent way to support oversight of the financial reporting processes at OCC, a major tax-supported institution in Oakland County,” said OCC Board Chair Thomas Sullivan. “Community involvement is important because we want to continue to be as responsive as possible to the community and its needs.”
Applications to serve on the Audit Committee may be obtained and completed online by accessing the link located here.
“Sound fiscal reporting is a critical aspect of running the College and meeting the needs of our students and the area’s future leaders,” said Craig J. Roshak, CPA, CGMA, Chair of the Audit Committee and a community volunteer member. “Those who serve on this committee have a unique opportunity to support and impact the Board and administration of this great institution.”
The deadline to apply is February 27, 2015.