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(a) The primary responsibility of the Audit Committee shall be to oversee the independent audit of the City's financial statements.
(b) The Committee's responsibilities shall include:
(1) The selection of the independent auditor;
(2) Consultation with the independent auditor regarding issues arising from the audit;
(3) The resolution of any audit findings, including the implementation of any corrective action necessary as a result of the audit; and
(4) The right to request the auditor to investigate particular areas or issues identified by the Committee.
(c) The Audit Committee shall have access to the reports of any internal auditors, as well as access to any annual internal audit work plans. The Audit Committee shall annually present a written report to the Mayor and Council of its actions during the past year.
(Ord. 00-5. Passed 5-9-00.)