Best practice to have an audit committee to provide accountability for nonprofit's independent audit

finance committee is responsible for monitoring the organization’s financial status

audit committee is given authority for overseeing the organization’s external audit process.

To ensure that the audit process is objective, an audit committee should be an "independent"

body, meaning that no one on this committee is also employed by the nonprofit

Directly responsible for the selection, retention and oversight of the independent auditor

Having an audit committee lends to the transparency of the organization to the outside world via reporting on the IRS Form 990; all 990 tax returns for charitable orgs are publicly posted online.