A.
The Council shall appoint a registered municipal accountant of the state to perform the annual audit required by law, pursuant to such form of retainer agreement as the Council may approve.
B.
The Auditor shall possess a professional liability insurance policy covering acts of professional malpractice in a form and amount satisfactory to the Borough Council. Said Auditor shall also provide evidence of participation in the AICPA peer review process as same may be established from time to time.