Records & Audit Committee

The Records & Audit Committee is dedicated to ensuring the integrity, accuracy, and transparency of the Central Texas Veterans Chamber of Commerce's financial records and internal documentation. This committee plays a crucial role in overseeing compliance with regulatory requirements, promoting financial accountability, and upholding best practices in record-keeping and auditing. By fostering a culture of transparency and responsibility, the committee supports our mission to empower veteran-owned businesses and military entrepreneurs in the region.

Become a Member & Serve the Commitee

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Key Summary of the Committee

The Records & Audit Committee shall:

- Review financial statements and ensure proper documentation of chamber transactions.

- Conduct periodic internal audits to assess financial and operational integrity.

- Ensure compliance with legal, tax, and regulatory requirements.

- Maintain and oversee document retention policies, including financial records, meeting minutes, and membership data.

- Work with external auditors to facilitate independent financial audits as needed.

- Report findings and recommendations to the Chamber Board.

- Identify and mitigate financial and operational risks.

Leadership

- Chairperson: Leads meetings, ensures adherence to auditing policies, and reports to the Chamber Board.

- Vice-Chair: Assists the Chairperson and assumes duties in their absence.

- Administrative Support: Manages documentation, record-keeping, and coordination of audit processes.

Committee Members

- The committee shall consist of 5-7 members selected from chamber members in good standing.

- Members should have expertise in finance, accounting, compliance, or legal matters.

- All members must adhere to confidentiality and ethical standards.

- Financial Reviews: Conduct quarterly reviews of financial records to ensure accuracy.

- Internal Audits: Perform scheduled internal audits and assess compliance with financial controls.

- Document Retention: Maintain secure and accessible records of financial transactions, contracts, and key business documents.

- Regulatory Compliance: Ensure adherence to local, state, and federal financial regulations.

- Risk Assessment: Identify vulnerabilities in financial processes and recommend corrective actions.

- Reporting & Transparency: Provide reports on audit results and record-keeping improvements to the Chamber Board.

- Maintain open communication with the Chamber Board and Treasurer regarding financial status.

- Provide periodic updates to chamber members on financial health and transparency measures.

- Educate chamber members on best practices for financial management and compliance.

About The Chamber

The Central Texas Veteran Chamber of Commerce (CTVCC) is a dedicated organization committed to supporting, empowering, and advocating for veteran-owned businesses, military entrepreneurs, and military-affiliated professionals in the Central Texas region.