Affiliates should also have Trustees perform an audit of the financial records whenever there is a change in the financial officers. Audits may also be performed at other times should a need be determined by the Trustees, officers or members.
Many affiliates utilize Trustees to perform the required audits.
The sole purpose for Trustees is to audit or to see that an audit is performed. An arms-length relationship between the Trustees and the Executive Board must be preserved to ensure the most objective possible audit. All Councils and any Local Union having 2,000 or more members must have an annual audit prepared by a Certified Public Accountant, performed in accordance with Generally Accepted Auditing Standards. All other affiliates are encouraged to use a CPA to perform an audit, review or compilation of the financial records. Whether performed by Trustees or outside auditors, the audit must include an examination of the records required to be maintained by this Code and a written report must be made to the Executive Board and to the membership.