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Audit delays and QC reviews prompt committee to seek tighter oversight, letters to governing boards
Summary
Following multi‑month delays in issuing the FY24 audit, the Financial Audit Advisory Committee pressed the auditor and staff for explanations, agreed to more frequent oversight meetings and to send letters to the Select Board and School Committee summarizing control findings and next steps.
Committee members spent a substantial portion of the meeting pressing the auditor and staff about the multi‑month delay that pushed issuance of the FY24 audit into September 2025. Several members said the firm's internal quality‑control process and turnover lengthened final issuance despite fieldwork being largely complete earlier in the cycle; staff and the auditor agreed the FY25 audit process was smoother.
Scott, the lead audit partner, acknowledged the timing: he said much of the fieldwork was complete earlier in 2025 but quality‑control and related steps delayed final issuance, and that FY25 was handled more efficiently. Committee members said they want stronger transparency and more regular committee oversight so that delayed audits do not become the norm.
The committee discussed next steps: drafting and sending letters to the Select Board and the School Committee that summarize the audit results, the control findings, and planned follow‑up; increasing the audit committee's meeting cadence in the near term (members proposed monthly or at least quarterly check‑ins) to monitor implementation of corrective actions; and reviewing whether the audit‑committee charter needs revision to clarify responsibilities for audit procurement and oversight.
The group also discussed procurement strategy: staff recommended keeping the current audit firm on a year‑to‑year engagement for FY26 to allow the firm to demonstrate consistent performance, while leaving open the option to solicit proposals if problems recur. The committee requested staff return with a proposed cadence, a dashboard of controls (cash‑reconciliation status, outstanding adjustments) and any outstanding documentation from the auditor, and it scheduled an evening follow‑up meeting on April 14 at 5:00 p.m.
The committee emphasized it is an advisory body that will forward recommendations; formal contracting authority rests with the town manager and the superintendent per the governance review that the committee discussed.
