A. To review with the auditor the financial statements relied upon by the auditor following submission of the annual audit report to the council. The purpose of this review is to receive comments concerning the adequacy and content of the financial statements and to facilitate an analysis of the annual audit report which has been submitted to the council;

B. To make an appraisal of the effectiveness of the overall audit effort. Such an appraisal may include a discussion of the overall approach to and scope of the audit examination with emphasis on specific areas of concern the committee or the auditor deems important;

C. To review financial or audit reports prepared by the auditor and the city manager or the city manager’s designee for financial matters;

D. To make recommendations to the council concerning the appointment of the auditor for the ensuing year and the fee for services. Although the council appoints the auditor, the committee may allow input from the finance director of the City as to recommendations for the appointment of the auditor;

E. To request to the council that it instigate a special inquiry or investigation if the committee is made aware of financial transactions that may be fraudulent or otherwise improper. [BC 2.03.178, added by Ordinance No. 4623, 12/10/13; amended by Ordinance No. 4794, 12/1/20]