The Internal Audit Committee consists of at least three members of the Board. The Committee is independent of the Treasurer. It is mandated by the Board to carry out an independent evaluation of all financial transactions, and report any errors, omissions, and transgressions to the Board. The Committee liaises with the external auditors and the honorary Treasurer to ensure that the audited accounts are a true reflection of the Madressa’s accounts, before presentation to the Kholvad Community at the annual AGM.
This committee has ensured that the Madressa has provided transparent and accurate financial accounts for the last sixty years.