ANSI - American National Standards Institute
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ANSI Approves Revisions to Institute Constitution and By-Laws

New York, Jan 26, 2009

The American National Standards Institute (ANSI) has approved revisions to the Institute Constitution and By-Laws following a membership vote on proposed changes.

The changes to the By-Laws, which were last revised in 2005, reflect the creation of the Audit Committee and its duties. The Audit Committee has been operating for the last three years pursuant to a charter approved by the ANSI Board of Directors. The Committee’s purpose is to assist the Board in carrying out financial oversight responsibilities and, in particular, to ensure the independence of ANSI’s external auditor. The functions of the Audit Committee are to be kept separate from functions carried out by the ANSI Finance Committee.

The ANSI Board Audit Committee is responsible for:

  • the appointment and dismissal, compensation, and oversight of ANSI’s independent auditor;

  • assisting the Board in its oversight and assessment of the adequacy and integrity of ANSI’s accounting system, financial statements, audit reports, and audit processes; and

  • periodically reviewing internal financial controls, including Board Conflict-of-Interest policies.

The Committee will report periodically to the Board on its activities and findings, including any issue regarding the quality or integrity of the Institute’s financial statements, compliance with regulatory requirements, and the performance and independence of ANSI’s independent auditor.

To view the revised ANSI Constitution and By-Laws, click here.