Conference audits provide IEEE with an independent evaluation of conference finances. The audit ensures that conference income and expenses are monitored, and that the financial reports issued at the end of the conference are fair.
The selection of an auditor depends on the IEEE financial responsibility and income of the conference.
|IEEE Financial Responsibility||Actual or Budgeted Income or Expense||Audit Type|
|Greater than 50%||Greater than US$250,000||The conference must schedule an audit by a qualified independent auditor or by IEEE Internal Audit.|
|Greater than 50%||Less than US$250,000||IEEE Internal Audit may schedule an audit. If not selected for an audit, the conference should arrange for an audit by an independent auditor or internal committee.|
|Less than 50%||Less than US$250,000||IEEE recommends that the conference schedule an audit by IEEE Internal Audit, an independent auditor, or an internal committee.|
1. If IEEE is performing the audit:
2. If an independent auditor is performing the audit:
3. If an internal committee is performing the audit:
When planning your conference budget, be sure to include an estimate for audit fees. The estimated budget fees for an audit by IEEE are:
|Total Budgeted Revenue or Expense Fee (Before Loans)||Audit Fee||Audit Scope|
|US$0–$99,999||None||A representative sampling of 10% of the conference financial data|
|US$100,000 & up||0.6% of budgeted revenue or expense, up to US$6,000||100% of the conference financial data|
IEEE is ready to help. If you have any questions about conference audits, please refer to the IEEE Internal Audit website.
Do you have other questions about organizing a conference? Please see IEEE Conference Organizer Contacts.
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