HomeMy WebLinkAboutAudit MemoCITY OF MIAMI
INTER -OFFICE MEMORANDUM
To: Honorable Members of the Date: February 22, 2010
City Commission
a �~_ Subject: Audit Advisory Committee
From: Priscilla A. Thompson References: March 11, 2010 Agenda
City Clerk
Enclosures: List of members
The Miami Audit Advisory Committee was created to: (1) Review the annual audit of City accounts
performed by the independent auditor; (2) Review the annual management letter developed by the
independent auditor; (3) Review the system of internal control utilized by the City; (4) Review the City's
compliance with the Municipal Finance Officers' Association guidelines and requirements; (5) Review
internal audit reports where it is felt by the internal auditor that fraud or criminal conduct may be
involved, to the extent that it does not compromise criminal investigations; (6) Review the City
Manager's recommendation for selection of an independent auditor, if requested by or directed by the
City Commission.
Please be aware that City Code Section 2-947 states in part:
"All members shall be qualified and distinguished by their education, experience and attainments in
the accounting profession, the practice of law, banking or business management. Members of the
committee shall be selected from among the following:
(a) A controller or chief financial officer of a large commercial enterprise (with size measured by
dollar sales/revenue volume);
(b) A commercial or investment banker associated with a large financial institution;
(c) A practicing certified public accountant (if not a certified public accountant, then an
accountant who shall have managed an accounting practice employing at least ten (10)
individuals)." [Emphasis added.]
Three (3) appointments are required at this time:
• Chairman Marc Sarnoff has one (1) nomination for a seat currently held by:
1. Stanley Foodman, incumbent, whose term expires on March 11, 2010.
• Vice Chairman Frank Carollo has one (1) nomination for a seat currently held by:*
1. Vacancy (since 11/7/2007 due to the resignation of Raquel Dawson).
• Commissioner Francis Suarez has one (1) nomination for a seat currently held by:t
1. Sharon S Lassar, incumbent, whose term expired on September 10, 2009.
For your convenience, included is a copy of the current membership of said committee. By copy of
this memorandum, we are requesting the Agenda Office to place this issue on the February 11, 2010
Commission agenda.
c: Victor Igwe, Auditor General
Robin Jones -Jackson, Assistant City Attorney
Elvi Gallastegui, Agenda Coordinator
Stanley Foodman, Chairperson
This item was continued from December 17, 2009, January 14, 2010 meeting, and February 11, 2010 meeting.
fi This item was continued from February 11, 2010 meeting.