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Audit Committee

ASQ HCD Audit Committee

Chair:  Open (to be filled)Co – Chairs (proposed change to one vice chair): Ms Siew Lee Cheng, Mr Mike Fitch, Mr John Harisson (Current)

Members: Open (to be filled for proposed 2 positions)

 

Audit Committee’s Guiding Principles

CTG Vision The vision of the Audit Committee is to support ASQ HCD’s missions through the demonstration of corporate responsibilities in the financial and management practice of HCD.
CTG Mission The mission of the Audit Committee is to provide comprehensive and objective reviews of the ASQ HCD’s activities, financial management, as well as establishing internal controls for identifiable risk areas of operations. 
CTG Goal & Objectives(For 2010 – 2011) Goal: To ensure the appropriate level of independence and objectivity in the annual audit process. 

Objectives:

The Audit Committee seeks to assist HCD management in:

  1. 1.        ensuring that HCD has operated in a fiscally responsible manner and properly documented its transactions.
  2. 2.       ensuring that adequate safeguards exist over HCD assets
  3. 3.       ensuring adherence to ASQ policies and procedures
  4. 4.       investigating wastes through audit process.

 

 

 


 

 

Detailed Action Plans for 2010 -2011

What & Metrics

Who & Resource Required

When & Deliverable

Recruit members for the open Audit Committee positionsMetric for success – Complete committee structure of 1 Chair, 1 Vice Chair, and 2 members by 1 Dec 2010 Responsible: Siew Lee Cheng Resource: Joe Fortuna By 1 Dec 2010Deliverable:

Audit Committee’s organizational chart

Complete SOP for the annual audit processMetric for success – Detailed audit SOP with at least two key process measures that are aligned to ASQ’s strategic metrics.

 

Responsible: Co chairs Resource: QMD & Finance By 1 Feb 2011Deliverable:

Approved audit’s SOP

Complete a proposed investment strategic plan for the next 3 years that is aligned with ASQ HCD’s short-term goalsMetric for success – A short-term 3 years investment plan of ASQ HCD Responsible: TBDResource: TBD By 1 March 2011Deliverable:

 

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