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  1. Review audit firms' reputation, capability, and cost prior to annual audit firm selection and letter of appointment.
  2. Select audit firm and/or audit firm's personnel on a cyclical basis to ensure that new audit perspectives are brought forward.
  3. Ensure that the audit firm reports be provided to and reviewed by the full Board of Directors in a prompt and timely manner.
  4. Provide to the audit firm all instructions, procedures and formats required by the Sacramento State Standing system-wide Accounting and Reporting Systems with these instructions, procedures and formats being a part of the audit requirements.
  5. Require that the Board, Union WELL Inc. management, and audit firm shall, if necessary, discuss and answer questions concerning management performance and the financial and internal control functions within the Union WELL Inc. operations, and the audit firm to work closely with Union  WELL Inc. management to achieve any desired improvements. Auditing firm shall make a presentation to both the Budget and Finance Committee and the Board of Directors.
  6. Transmit this policy to the Union WELL Inc. Directors and to the accounting, bookkeeping, and cashiering contractors, if any, and require that the Executive Director and such contractors shall additionally provide all necessary efforts to ensure its implementation.

Guidelines and Procedures

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UpdatedFebruary 19, 2014