Conference Audit | 
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All Conferences where IEEE is the lead sponsor (greater than 51%) are required to have an independent audit. The Conference Treasurer is responsible for ensuring that an audit of conference financial reports is completed by a representative independent from the conference. Conferences where IEEE is not the lead sponsor (less than 51%) are encouraged to have their reports and records audited.
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Selection of Auditors
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IEEE sponsored conferences with revenue or expense, budget or actual, in excess of US$100,000 are required to have their audit performed by the IEEE Internal & Operations Audit Department or an independent audit firm of their choice. Conferences with a revenue or expense budget of less than US $100,000 will be audited on a rotational basis. For those conferences with revenues or expenses of less than US $100,000, not scheduled for an Operations Audit review in a given year, an audit should be conducted by a committee, composed of individuals who have no direct or indirect responsibility for the financial transactions of the conference. |
Scope of Work
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The evaluation of conference financials by either IEEE Internal & Operations Audit Department or the independent audit firm will be performed, using a common set of criteria which has been developed to ensure that:
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Audit Fees
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Conference budgets & actual financials should include an amount for audit fees. The fees for IEEE Internal & Operations Audit Department are:
If using IEEE Internal & Operations Audit Department a Memorandum of Understanding will be provided. |
Audits Conducted by Independent Audit Firms
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The Conference Treasurer may choose to have an independent audit firm complete the required audit. The independent audit firm should perform an agreed upon procedures review, using the IEEE Conference audit steps (DOC, 34 KB). A copy of their audit report must be submitted to IEEE Conference Finance for review by IEEE Internal & Operations Audit Department. |
Audits Conducted by Internal Committee
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For those conferences with revenues or expenses of less than US$100,000, not scheduled for an IEEE Internal & Operations Audit Department review in a given year, an audit should be conducted by a committee, composed of individuals who have no direct or indirect responsibility for the financial transactions of the conference. Selection of Data for Testing A representative sampling of 10% of the conference financial data is suggested. If the number of exceptions in the sample is above an acceptable level, the sample should be expanded until an acceptable level of confidence is achieved. Suggested Procedures for Testing The following procedures should be updated from year to year, based on findings and recommendations of prior year conference audits. |
