[Amended 5-20-2019 ATM by Art. 21]
The Audit Committee shall serve as advisor to the Select Board
with respect to the town's financial management systems and controls
and annual audit. In addition, the Audit Committee shall make an annual
report to the Town on matters within the scope of its jurisdiction.
Specific duties shall include, but are not limited to, the following:
A. Make
recommendations to the Select Board on the selection of, and scope
of services for, an independent auditor.
B. Review
the annual financial statements and management reports prepared by
the independent auditor and make recommendations with respect thereto.
C. Make
recommendations for areas of operations where expanded scope audits
or review of the internal controls may be appropriate.
D. Review
and make recommendations with respect to the Town's financial
management practices and controls; through the Town Administrator,
review with appropriate boards and departments opportunities to improve
such practices and controls.
E. Report
to the Select Board on the status of recommendations the Committee
and/or independent auditor has made during the preceding twelve months.
F. Submit
a summary of their work for the preceding calendar year for inclusion
in the Town's Annual Report.