Audit Advisory Committee

Purpose

The Audit Advisory Committee was established on February 21, 1984, by Board Resolution 84-16 (amended on June 5, 1984, and superseded by Resolution 86-42 dated April 19, 1986).

The Audit Advisory Committee provides assurance to the County Board concerning the internal and financial controls of the county. It provides greater independence and objectivity to the audit functions.

Responsibilities

The Audit Advisory Committee oversees the county's internal audit function, which has responsibilities in three areas:

  1. Internal Controls
    The committee monitors the county's system of internal controls to determine their adequacy for safeguarding county assets and ensuring efficient operations. The areas of concern include, but are not limited to:
    • Cash transactions (receipts, disbursements, physical controls, etc.).
    • Receivables and billing processes.
    • Capital assets (acquisitions, disposals, inventory, insurance coverage, expense items, etc.).
    • Contracts (documentation, adherence to policy, etc.).
    • Payroll systems.
    • New technology developments.
    • Investments.
  2. Legal Compliance
    The committee monitors the county's system of internal control to assure that programs, transactions, grants and other pertinent matters comply with the appropriate laws, regulations, and policies.

  3. Financial Reporting
    The committee assists in assuring that financial information generated from the various county systems is reliable and timely and has clarity and appropriate disclosures. To this end, the internal auditor assists in coordinating year-end audit efforts with the external auditor. The committee ensures that external and internal auditor recommendations for improvements in internal controls and operating methods receive management's attention.

  4. Annual Report
    The Audit Advisory Committee presents to the County Board an annual report of its activities.

Restrictions

The Audit Advisory Committee does not have responsibilities to:

  • Oversee the scope and performance of the independent (external) audit function.
  • Evaluate and review the budget process.
  • Present the annual financial report to the County Board.

Composition

The Audit Advisory Committee consists of four members: 

  • The County Board chair or commissioner designee.
  • The County Administrator.
  • Two citizen members.

Procedure for appointment

Applicants must complete the required application for appointment to this committee. Submit any background information requested.

Member terms

The two citizen members are appointed by the County Board to three-year terms on a staggered basis.

Meeting requirements

Meetings will be quarterly or as needed. Meetings are at the Government Center in Stillwater.

Remuneration

Lay members for the Audit Advisory Committee are eligible to receive meetingper diem and mileage reimbursement at the rate established by the County Board.

Operating procedures

The Audit Advisory Committee operates in accordance with the operating procedures established by the County Board.