The audit committee shall be established in order to provide the following functions: a) to review applications submitted to the city of Duncan by those individuals desiring to conduct the annual audit for the city; b) to make recommendations to the council in selection of qualified certified public accountant or accountants who shall conduct an independent audit of the accounts and evidence of financial transactions of the department of finance and all other departments, offices and agencies, keeping separate or subordinate accounts or making financial transactions as of the end of every fiscal year; c) to act as a liaison between the selected auditor and the city of Duncan; d) to review all audit results with the auditor, the city manager and the city treasurer; e) to make recommendations to the auditor which may provide for a more expedient and efficient audit procedure. (Ord. 1484, 4-26-1999)