It is necessary for board members to have an understanding of the many issues facing the organizations they serve including financial reporting, strategic planning, managing growth and overall governance. While the issues facing the board of directors can be challenging, the audit committee, appointed by the board of directors, also struggles with multiple responsibilities including oversight of the audit process and implementing recommendations. It is important that both the board and the audit committee have the knowledge and experience needed to be effective in this role.
Both the board and audit committee members often need to consult an independent advisor on matters relating to the challenges they face. SVA’s professionals have the expertise to serve in an advisory role and assist in the success of the organization.