This chapter creates an external Audit Committee for the Town
of Clarkstown.
The purpose of this chapter is to create a new chapter of the
Town Code of the Town of Clarkstown to provide for the creation of
an external Audit Committee to advise and make recommendations to
the Town Board and Town Comptroller with regard to fiscal responsibility
and reform in the Town of Clarkstown.
There shall be an external Audit Committee for the Town of Clarkstown,
which shall consist of three private members appointed by the Supervisor
and the Town Board. All private members shall serve for a three-year
term commencing on the first day of January 2017. The members of the
Audit Committee shall elect a private member as chairperson for an
annual term commencing on the first day of January 2017.
The private members of the external Audit Committee shall include
at least one person with expertise in finance, one person with expertise
in accounting, and one person with expertise in either finance, accounting
or both. Private members shall serve in an advisory capacity and without
compensation. Private members shall continue in office until their
successors have been appointed and qualified.
The external Audit Committee shall:
A. Recommend
to the Town Board the selection of a firm of certified public accountants
to perform the required annual audit of the Town's accounts.
B. Review
and approve the audit scope to be performed by the selected firm of
certified public accountants.
C. Meet
with the Supervisor, Comptroller and certified public accountants
at completion of the audit to review audited financial statements
and review the audit firm's recommendations for improvement of
internal control.
D. Follow
up on the Town's implementation of the auditor's recommendations
which are considered practicable.
E. Provide
counsel on the selection of the actuarial firm to perform the actuarial
evaluation required by GASB 45.
This chapter shall become effective immediately upon filing
with the Secretary of State.