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Herington commissioners approve annual audit engagement, designate Megan Lorenz to oversee non-audit services
Summary
The Herington commission accepted the auditors' engagement letter for the upcoming audit cycle and designated Megan Lorenz to oversee non-audit services; staff clarified auditors' role versus consultants and noted auditors will be on site in April–May.
The City Commission on Feb. 17 received and approved the auditors' engagement letter for the upcoming annual audit. Staff said this is standard practice and that auditors will begin work in April and May, with the audit report expected around the time the city finalizes its budget.
Speakers discussed the difference between an auditor's role (checking accounting compliance and assuring the books) and a consultant/adviser who provides training and recommendations. Staff identified the Lloyd Group (Scott Lloyd) as a vendor that provides advisory training distinct from an auditor's compliance review. Staff also cautioned about the ethics of an auditor performing the same advisory work that they later audit.
Speaker 4 moved to accept the engagement letter and designate Megan Lorenz to oversee non-audit services; the motion was seconded and approved by voice. Staff said they will receive the audit report around budget finalization and that if the commission wants additional training or recommendations they could engage a consultant who does advisory work.
Representative quote from staff: "Typically, the role of an auditor is to kind of give you the black and white, are you following the law or ... are you accounting correctly..."
