| Number of Members: | Five |
|---|---|
| Term Length: | Three Years |
| Appointment Process: | County-wide |
| Description: | Primary purpose of this committee will be to provide financial oversight for financial reporting and auditor's activities to help strengthen accountability, integrity and transparency in Douglas County. |
| Staff contact: | Andrew Copland |
| Regular Members | Term Expires |
| Garth Farrend | January 2013 |
| John (Bill) Montgomery | January 2013 |
| James Livingston | January 2012 |
| Colleen McAntee | January 2011 |
| Dave Hammling | January 2012 |
More information:
An audit committee is required for most public companies yet it is only voluntary for governments. However, it is a recommended best practice.
The primary roles of this Audit Committee will be to participate in the selection of the independent auditor for the audit of the County's financial statements and single audit (A-133) and review the County's annual financial statements, related footnotes and management discussion and analysis The Committee will serve as an independent direct communication link between the Board of County Commissioners and the independent auditor and reports it findings annually to the Board of County Commissioners.
The Audit Committee will be made of five members. Three members will be chose from the represented districts within the County (one from each district), and two should be experience financial professionals from the County at large. While financial experience will not be required from the prospective members, it will be preferred as the level of complexity of governmental financial transactions is high.
It is recommended that the appointments to the Audit Committee be fore a term of three years. Annual reviews of the committee will fall under the Policy Governance guidelines established by the Board of County Commissioners.
Resolution Establishing an Audit Committee for Douglas County Government