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Committee discusses auditor independence and year-round consulting options
Summary
Members asked whether the RFP covered only the annual audit and discussed the practical need for year-round consulting; prior auditor Weston & Gregory’s charges were noted and the committee discussed using a consultant for advice separate from the auditor to avoid conflicts.
Members clarified that the RFP covers the annual audit, not ongoing accounting services, and discussed how the town will handle year-round accounting questions.
A council member asked whether the RFP covered all CPA work; staff replied it covers the annual audit only and suggested the town could engage Weston & Gregory or an outside consultant for occasional consulting if needed. Committee members noted the prior auditor charged about $30,000 annually (split roughly $15,000 general fund, $15,000 water fund) and that the new proposals are generally in a similar range.
The committee discussed independence concerns and the possibility of retaining an independent consultant if the audit firm cannot provide year-round advisory work without compromising auditor independence.
