This falls under the Bylaws' Article V, Section 3. It is mentioned under "duties of the officers."
a. The president...shall order an annual audit of the Council's financial records for the previous year in January. The president, in conjunction with the board of directors, shall appoint an Audit Committee to review the financial records and accounting procedures/practices, and have such committee present its finding at a designated meeting, but no later than the April meeting
Its recent chair has been John Norville. Anne DeMajistre will be the chair in 2009.