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Council weighs forming an internal-audit committee to strengthen oversight
Summary
Council members discussed whether to form an internal-audit committee after auditors recommended strengthened review of the financial-close process. Auditors suggested a common model: two council members, the finance director and occasionally a resident expert.
Auditors recommended steps to improve the financial-close process and council members raised the idea of creating an internal-audit committee to provide ongoing oversight. Peter said practices vary but described typical membership and scope: "I've seen at other places, kind of a make normally a couple of council members and, you know, the finance director. Really, it can be anyone. I've seen some places put a resident that knows a lot about government accounting."
Council members asked how large and active such a committee should be. Peter suggested a committee of four to six people and recommended a rotating, multi-year internal-audit plan so the group could focus on specific areas each year (inventory, journal entries, cash receipts). Members signaled openness to the idea and planned follow-up to define membership and scope.
