Audit Committee

The Audit Committee assists the board of directors in overseeing (a) the selection, retention, and performance of Philanthropy New York’s independent auditors; (b) the quality and integrity of Philanthropy New York’s financial reporting; (c) its fiscal controls and tax and regulatory compliance; and (d) compliance with its code of conduct. 

Committee Responsibilities: 

The Committee annually reviews or retains the independent auditor and upon completion of the audit reviews the results of the audit and any related management letter with the independent auditor. Additionally, the Committee annually reviews compliance with the Conflict of Interest and Whistleblower policies and contributes to the Administrative and Finance policies of Philanthropy New York.  

Committee Membership:   

All members of the Audit Committee must be independent members of the Board*, as defined below.  Members serve a two-year term, commencing in September each year. 

*An independent member of the Board does not enter into transactions with, or have any significant personal stake with companies that enter into transactions with, Philanthropy New York.