The Audit and Finance Committee will assist the Chairperson and the Board in the following ways:
(A) Monitoring and overseeing Metra’s financial reporting process, the application of accounting principles and the engagement of outside auditors and/or accountants;
(B) Monitoring and overseeing the performance of audit work performed by Metra’s Audit and Compliance Department and the work of any outside auditors employed by Metra;
(C) Monitoring and overseeing Metra’s internal controls and risk management systems;
(D) Monitoring and overseeing general matters relating to legal, regulatory and ethical compliance in Metra;
(E) Reviewing, providing guidance and making recommendations regarding Metra’s core financial policies;
(F) Reviewing, providing guidance and making recommendations with respect to Metra real estate matters; and
(G) Reviewing, providing guidance and making recommendations regarding procurements relating to banking and financial services, outside audit and all procurements that are not part of Metra’s capital program, including professional services contracts.
(Ord. MET 12-31, passed 12-14-2012)