Establishes policies and procedures that ensure full transparency into the use of all donor funds raised under the Wikimedia name or on its sites, including those raised by the Foundation, the Chapters and other affiliated organization.
Reviews the information to be reported to the Internal Revenue Service on the Foundation's annual Form 990.
Reviews and discusses with management and the independent auditor (a) the adequacy and effectiveness of the Foundation's internal controls (including any significant deficiencies and significant changes in internal controls reported to the Committee by the independent auditor or management; (b) the Foundation's internal audit procedures; and (c) the adequacy and effectiveness of the Foundation's disclosures controls and procedures, and management reports thereon.
Reviews matters related to the corporate compliance activities of the Foundation.
Ensures procedures exist for the receipt, retention and treatment of complaints received by the Foundation regarding questionable accounting, internal accounting controls, or auditing matters; and the confidential submission by employees of concerns regarding waste, fraud, abuse, and other wrongdoing.
Establishes policies for the hiring of employees and former employees of the independent auditor.
Presents a report of the Committee's activities to be included in Board minutes.
When appropriate, designates one or more of its members to perform certain of its duties on its behalf, subject to such reporting to or ratification by the Committee as the Committee directs.
