We believe internal control is the key to good governance. Hence, we strive to ensure stringent measures are in place to meet the highest standards of transparency.
In order to ensure the effectiveness of the internal controls, the organisation has appointed Ernst & Young LLP, one of the Big 4 Reputed Auditing firm as the internal auditor to conduct a thorough audit of the operations of the organization on continuous basis. These reports are then reviewed by the Audit Committee.
The Audit Committee is a sub-committee of the Board of Trustees that was formed to ensure the effectiveness of the internal control environment. External eminent experts who may not be trustees, can also be co-opted into the Audit Committee.
The composition of the Audit Committee is as follows:
Sri K V Chowdary IRS (Retired) - Chairman of Audit Committee Former Chairman, Central Vigilance Commission (CVC) & Former Chairman, Central Board of Direct Taxes (CBDT)
Sri Kaushik Dutta – Member of Audit Committee Former Partner, PWC,Author of books on Corporate Governance, Ethics and Public Policy (published by Oxford University Press) and thought papers; Visiting Faculty, IIM-Calcutta
Sri Noshir H. Dadrawala – Noshir H. Dadrawala is CEO of Centre for Advancement of Philanthropy (CAP), a not-for-profit company established in the year 1986. He also serves as trustee on several boards including The Forbes Marshall Foundation, Everest Industries Foundation, Bombay Community Trust, Happy Home and School for the Blind and Bharatiya Samaj Seva Kendra. He is a member on the advisory board of the International Center for Not-for-profit Law (ICNL). He is a legal advisor, author and blogger with a keen interest in research too.
Formerly, he has been a member of the Planning Commission - Government of India.
Noshir specializes in laws such as the Trusts Act, Societies Registration Act, Indian Companies Act, Tax exemptions and deductions and the very complex Foreign Contribution Regulation Act 2010.