General business of the Audit Committee. The Audit Committee consists of three (3) members appointed by the Board of Trustees (Board), whose purpose is to assist the Board in fulfilling its oversight responsibilities. The Committee shall serve as an independent and objective party to monitor processes for financial reporting, internal controls and risk assessment, audit processes, and compliance with laws, rules, and regulations. The Audit Committee operates under Section 215.444(2)(c), Florida Statutes.