STATUS

The Audit Committee is a Standing Committee of the Board pursuant to Section 3, Article 2 of the Saint Mary's University By-laws. The Committee is advisory to the Board unless, and to the extent that, the Board grants it decision-making authority for specific matters. The Audit Committee shall have direct communication channels with the external auditor to discuss and review issues within its mandate. REPORTING The Audit Committee reports and makes its recommendations directly to the Board. The Committee shall provide a report of its activities and recommendations at the Annual Meeting of the Board of Governors. The Committee will provide a separate report on the University’s highest priority risks and the process for dealing with them. In the role of Executive Committee member, the Audit Committee Chair provides regular reports to the Executive Committee of the Board. The Audit Committee will annually review its mandate, self-assess its performance, and provide a copy of the self-assessment to the Board of Governors. COMPOSITIO