These records document the activities of the Audit and Review Committee, an arm of the Smithsonian Institution Board of Regents. The Audit and Review Committee was established in April 1977 to review, address, and report on comments and recommendations contained in a report from the Comptroller General of the United States issued March 31, 1977, regarding the Institution's practices and procedures for the expenditure of Trust and Federal funds. The Committee, in conjunction Phillip S. Hughes, issued its report dated September 1, 1977. Having fulfilled its mandate, the Committee was disbanded at this time.
The Committee was re-established in 1979 and serves as a standing committee providing oversight regarding the Institution's accounting and internal controls. According to the bylaws of the Board of Regents (Section 4.01), the Committee functions "to assure the Board that the Institution's accounting systems and internal controls are in good order and facilitating communication between the Board of Regents and the Institution's internal auditors, its independent auditors, and those of the GAO (General Accounting Office)."
Materials include planning materials, agendas, minutes, reports, notes, correspondence, and memoranda.