Audit Committee of the MIT Corporation

E218101

The Audit Committee of the MIT Corporation is a governing body responsible for overseeing MIT’s financial reporting, internal controls, and audit processes on behalf of the Institute’s board.

All labels observed (2)

How this entity was disambiguated

Statements (48)

Predicate Object
instanceOf audit committee ⓘ
board committee ⓘ
actsOnBehalfOf Board of the MIT Corporation ⓘ
affiliatedWith Massachusetts Institute of Technology ⓘ
compositionIncludes independent members of the MIT Corporation board ⓘ
members of the MIT Corporation ⓘ
country United States ⓘ
focusesOn effectiveness of internal control over financial reporting ⓘ
financial risk and compliance oversight ⓘ
independence and performance of external auditors ⓘ
integrity of MIT’s financial reporting ⓘ
performance of internal audit ⓘ
follows MIT Corporation bylaws ⓘ
charter approved by the MIT Corporation ⓘ
governs MIT’s financial reporting oversight framework ⓘ
hasAuthority to access relevant MIT records and personnel for audit oversight purposes ⓘ
to investigate matters within its scope of responsibility ⓘ
hasParentOrganization MIT Corporation ⓘ
hasPurpose to assist the MIT Corporation in fulfilling its oversight responsibilities for financial reporting and audit ⓘ
hasScope oversight of whistleblower and complaint procedures for accounting and auditing matters ⓘ
review of annual financial statements ⓘ
review of external audit plans and results ⓘ
review of internal audit plans and results ⓘ
review of internal control systems ⓘ
review of major financial risk exposures ⓘ
review of significant accounting policies ⓘ
jurisdiction Massachusetts Institute of Technology ⓘ
languageOfWorkOrName English ⓘ
locatedIn Cambridge, Massachusetts ⓘ
mayEngage independent external auditors ⓘ
outside advisors ⓘ
meetsWith MIT’s senior financial management ⓘ
independent external auditors ⓘ
internal audit leadership ⓘ
oversees audit processes ⓘ
financial reporting ⓘ
internal controls ⓘ
partOf MIT Corporation ⓘ
relatedTo Finance Committee of the MIT Corporation ⓘ
Risk and Audit oversight at MIT ⓘ
reportsTo Board of the MIT Corporation ⓘ
MIT Corporation ⓘ
responsibleFor oversight of MIT’s financial statements ⓘ
oversight of compliance with legal and regulatory requirements related to finance ⓘ
oversight of independent external auditors ⓘ
oversight of internal audit function ⓘ
oversight of risk management related to financial reporting ⓘ
sector higher education ⓘ

How these facts were elicited

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.

MIT Corporation → hasCommittee → Audit Committee of the MIT Corporation ⓘ
MIT Corporation → hasCommittee → Risk and Audit Committee of the MIT Corporation ⓘ
linked to: Audit Committee of the MIT Corporation