Audit Committee

(a)   Creation.  Pursuant to section 3.11 of the city Charter there is created an audit committee. 

(b)   Purpose.  The audit committee shall have the purpose of enhancing the financial statement auditor's real and perceived independence and to provide a direct link between the auditor and governing body and to facilitate communication between the governing body, the auditors and management. Further, the audit committee should play an advisory role to the governing body; however, it should not interfere with performance of the auditor's duties. 

(c)   Membership.  The audit committee shall consist of no less than five nor more than seven members appointed by the mayor and council, such appointees being selected on the basis of their knowledge and interest in the financial planning and accounting principles. 

(d)   Functions and duties.  The audit committee shall: 

(1)   Oversee the independent audit of the city's financial statements from making recommendations on the selection of independent auditors to the resolution of findings or issues;

(2)   Review the reports of any internal auditors (as opposed to independent) as well as any internal audit work plans;

(3)   Annually present a report to the mayor and council and city manager of its activities and its recommendations and/or findings.

(e)   Administration.  The audit committee shall elect one of its members as chair and one member as vice-chair and may elect as its secretary one of its own members. 

(f)   Rules of procedure.  To the extent the audit committee deems it appropriate, it may adopt bylaws, rules and regulations not inconsistent with any provisions of the city Charter, ordinances or other law. Copies of any such rules, bylaws, etc., shall be filed with the clerk of council. 

(g)   Meetings.  Meetings of the audit committee shall be scheduled as directed by the chair or the membership and all meetings shall comply with the Georgia Open Meetings Act.