Audit Committee

Audit Committee - Tony Witty - 2017
Tony Witty
Title: Chairman, General Business Member
Professional Role: Financial Advisor
Audit Committee - Jeffrey Stein - 2017
Jeffrey Stein
Title: Vice Chairman, Audit Professional Member
Professional Role: Senior Attorney for Fruit of the Loom
Audit Committee - Brian Dinning - 2017
Brian Dinning
Title: Audit Professional Member
Professional Role: Budget Analyst for International Enrollment Management for WKU
Audit Committee - Vivian Grise - 2017
Vivian Grise
Title: General Business Member
Professional Role: Administrator and CFO for Western Kentucky Heart & Lung Associates
Audit Committee - Joe Denning - 2017
Joe Denning
Title: City Commission Member
Professional Role: N/A
Audit Committee - Kevin DeFebbo - 2017
Kevin DeFebbo
Title: Ex-Officio (Non-Voting) Member
Professional Role: City Manager, City of Bowling Green, KY

 

Purpose

The Audit Committee is appointed by the mayor, with approval by the Board of Commissioners to provide independent oversight to:

  1. approve annual assessment of risk presented by Internal Auditor’s Office,
  2. approve annual audit plan based on assessment of risk,
  3. review quarterly internal audit progress towards approved audit plan,
  4. recommend selection and retention of external auditor and ensure proper rotation of external partner or firm as mandated by any applicable statute or regulation, and
  5. review annual financial statement audit and recommend approval to the Board of Commissioners.

Powers & Duties

The powers and duties of the audit committee include the following:

  • Approve annual assessment of risk presented by the Internal Auditor’s Office;
  • Approve annual audit plan based on assessment of risk presented by the Internal Auditor’s Office;
  • Review quarterly internal audit progress towards approved annual audit plan;
  • Review the Comprehensive Annual Financial Report and recommend approval to the Board of Commissioners;
  • Recommend selection and retention of external auditor and ensure proper rotation of partner and firm as mandated by any applicable statute or regulation.

Meetings

Regular meetings shall be held at least quarterly, and any special meetings may be held as specified in KRS 61.823. All meetings shall be open to the public in a manner consistent with KRS 61.805-61.850. Full and complete minutes of all meetings and records of all proceedings, including number of votes for and against each motion and the record of the vote of each member, shall be kept and made available for public inspection. The City of Bowling Green shall provide clerical staff as needed.

Limitations of the Committee’s Role

While the Audit Committee has the powers and duties set forth in this Charter, it is not the duty of the Audit Committee to plan or conduct audits or to determine that the financial statements and disclosures are complete and accurate and are in accordance with generally accepted principles and applicable rules and regulation. These are responsibilities of management and the external auditor.

  • Annually develop an audit plan using risk-based methodology.
  • Implement the annual audit plan, as approved, including special tasks requested by the City Manager.
  • Make recommendations for improvements to management based on individual audit results, while noting adherences to correct practices.
  • Perform consulting services, beyond internal auditing assurance services, to assist management in meeting its objectives.
  • Issue quarterly reports to the audit committee summarizing results of audit activities.
  • Monitor key financial processes on a determined periodic schedule.
  • Follow up on prior audits to determine if agreed upon recommendations were implemented and report any noncompliance to the City Manager.
  • Assist in the investigation of any suspected fraud, waste, abuse, or illegal acts and notify the City Manager and appropriate authorities as needed.

Composition Of Members

  • Two (2) members shall be audit professionals from the community at large preferably with CIA, CPA, CFE or other appropriate professional certification;
  • Two (2) members shall be from the business community at large;
  • One (1) member shall be selected from the membership of the Board of Commissioners;
  • City Manager shall serve as ex-officio, non-voting member of the committee.

The mayor shall appoint all voting members, with approval by a majority vote of the Board of Commissioners. The members of the Audit Committee shall serve without compensation, but shall be reimbursed for expenses necessarily incurred in the performance of their duties.

Approved Minutes

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