Sec. 2-129.18. Responsibilities of the Audit Committee.

 

Sec. 2-129.18. Responsibilities of the audit committee.
 
There is hereby established in and for the city an audit committee. The audit committee shall provide oversight of the internal audit activities and shall perform the following duties:
 
(a) recommend selection of the external auditor;
 
(b) participate in the external audit through the review of significant operational or reporting issues affecting the financial statements which were discussed by management and the external auditor, review of auditor performance, and meeting with external auditor to discuss pertinent matters;
 
(c) select the internal audit director subject to council approval;
 
(d) review plans and objectives of the internal audit director;
 
(e) review results of internal audits and other engagements;
 
(f) request special audit projects;
 
(g) review progress toward resolving previous findings and recommendations;
 
(h) participate with the city manager in performing an annual performance evaluation of the internal audit director. (Ord. No. O-95-157, 6-13-95; Ord. No. O-02-145, 8-13-02; Ord. No. O-03-188, 11-11-03)
 
Last updated date: 10/23/2006 4:15:21 PM