Sec. 1005. Annual audit.
   Within three months after the beginning of each fiscal year, the council by resolution shall arrange for an annual independent audit of the books, accounts and other evidences of financial transactions of the town, as of the close of the preceding fiscal year, to be conducted either by state auditors or by a certified public accountant holding a certificate from this state and having no personal interest therein. Such examinations shall conform with generally accepted auditing standards. A copy of the audit report shall be filed with the town clerk and shall be a public record.