The City of Lakewood Audit Committee is hereby established to provide independent review and oversight of the City’s financial reporting processes, internal controls, and the independent auditor comments. The Committee shall review financial statements, independent auditor reports and follow up on corrective actions; review the City of Lakewood’s comprehensive framework of internal controls; to assess the performance of the independent auditor; and to provide an independent forum to report findings of management fraud, abuse or control override to the independent auditor. (Ord. 93-07. Passed 12-3-07.)