The powers and duties of the Audit Committee shall include the following:
(a) Serve in an advisory capacity to the Council regarding audit and internal control issues.
(b) Assist in selecting an independent public accounting firm to conduct the annual audit of the City under Auditor of State guidelines when requested by Council.
(c) Meet with the audit team from the Auditor of State's office or the independent certified public accounting firm prior to commencing the annual audit to review the scope and terms of the audit engagement.
(d) Meet with the audit team during the post audit conference to review the results of the audit, including any citations, recommendations, or adjustments to financial statements.
(e) Meet with municipal staff to discuss actions to be taken to correct citations and implement recommendations contained in the audit report.
(f) Assist in facilitating resolution of disagreement(s) or problem(s) encountered between the audit team and municipal staff during the audit engagement.
(g) Review and comment upon any deficiencies in the City's internal control system.
(h) Recommend to Council any proposed changes in the duties of the Audit Committee.
(i) Any other duties as may be assigned by Council.
(Ord. 2477. Passed 7-10-08.)