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HomeMy WebLinkAboutAudit CCMemo 7-22-2010CITY OF MIAMI INTER -OFFICE MEMORANDUM To: Honorable Members of the Date: June 21, 2010 City Commission 6) Subject: Audit Advisory Committee From: Priscilla A. Thompson References: July 8, 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.] One (1) appointment is required at this time: • Vice Chairman Frank Carollo has one (1) nomination for a seat currently held by:* • Vacancy (since 11/7/2007 due to the resignation of Raquel Dawson). * This item was continued from December 17, 2009, January 14, 2010, February 11, 2010, March 11, 2010, April 8, 2010, May 13, 2010, and June 10, 2010 Commission Meetings. 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 July 8, 2010 Commission agenda. PAT:pl c: Victor Igwe, Auditor General Robin Jones -Jackson, Assistant City Attorney Elvi Gallastegui, Agenda Coordinator Stanley Foodman, Chairperson