The Committee is composed of at least one member from each district in the state. It shall be the duty of the District Governor to appoint a member from his/her District and to confirm that he/she will serve. The Council, at its first meeting, will appoint a Chairperson and a Vice Chairperson for the Committee. It is recommended that one member of the committee be appointed from the current fiscal year Finance and Operations Committee, one member be appointed from the previous fiscal year Finance and Operations Committee and one member be a current First Vice District Governor.

A. Audit Function
1. Objective — To assist the Council of Governors in its By-Laws responsibility of establishing policies and procedures as related to review and auditing of the funds of Multiple District 34 and periodically review the financial status of the Multiple District.
2. Duties – Works with the Finance and Operations Committee, Council of Governors, Multiple District Staff, Multiple District Secretary, and Treasurer as well as other committees on financial matters to include the following:
(a) Upon close out of the previous fiscal year financial accounts, conduct a thorough review of the financial statements covering the preceding fiscal year. The review shall be conducted in accordance with routine analytical accounting procedures to the best of the committee’s knowledge. The review and report should be completed no later than March 15 of the current fiscal year.
(b) Review bank accounts, investments, and the disbursement and transfer of funds.
(c) Periodically, in conjunction with the Finance and Operations Committee, review all financial policy and make recommendations to the Council of Governors for any change.

B. Meetings – The committee shall meet as often as necessary to perform its duties as prescribed in this policy. The chairperson may call a meeting at any time as he/she deems advisable. Other committee members may request meetings through the chairperson of the committee.

C. Reporting – The committee shall prepare a report of findings and recommendations for submission to the Council of Governors as set out herein.