The functions of the Audit Committee are:
- Conduct an annual audit of the financial books and records of LES (USA and Canada), Inc. and report its findings to the LES Board of Trustees. In conducting this audit, the committee confirms income and expense accounts and makes random tests of specific transactions. It compares current accounts with accounts in previous years. The committee also consults with the LES certified public accountant during the audit.
- When deemed appropriate, the committee will recommend a professional audit of the society books and records.
- Monitor the fiscal procedures of the society and periodically review its financial condition. The committee advises the Board of Trustees concerning fiscal procedures and tracks long-term financial trends of the society. The LES (USA and Canada), Inc. Treasurer is traditionally one of the members, but not the committee chair.