
This audit program sample includes steps that can be used to audit an organization’s executive compensation process.
Sample steps include: obtain the compensation committee charter; verify through board of directors meeting minutes that the charter is properly approved; verify that the charter addresses the composition, purpose and operating guidelines of the committee; verify that the board of directors reviews the compensation committee charter annually; verify that the board of directors prohibits personal loans to directors and executive officers; and obtain supporting documentation verifying that members qualify as independent directors.